Davys seal €141.3m Hamburg property deal

Brokers Davys have acquired a large retail and office property in Hamburg, Germany, on behalf of private clients for €141.3m.

The 225,000 sq ft property gains 65% of the rental income is derived from retail tenants, with the reminder from office tenants and car parking.

Davy acquired the property from the open-ended German property fund DIFA at a yield of 5.4%.

The property, called Spitaler Hof, is located on Spitalerstrasse, Hamburg’s busiest pedestrianised retail street.