Turnaround Management Commercial Asset, Leipzig

The Challenge

  • 10.000 sqm of office and storage space
  • City centre location of Leipzig
  • Property was acquired by client from a receivership situation
  • Unclear cash flow and rental situation

The Mandate

  • To act as crisis manager and reposition the asset for sale
  • To develop tenant relations
  • To lease vacant space
  • To achieve subsequent sale

The Results

  • Following years of stagnation, within 18 months:
  • All existing tenants were registered and lease contracts cleaned up
  • A business center concept for lease up of vacant office space was developed
  • Full letting of vacant office space was achieved
  • Rental income was increased by 28%
  • Sales target was exceeded by 20%