The business premises at Weinbergsweg 1, 1a/Torstrasse 119 on Rosenthaler Platz in Berlin-Mitte, which provides a gross floor space of 5,200 m², has been sold to a Swiss family office through the brokerage of Cushman &Wakefield LLP under an exclusive agency agreement. The seller is The Circus Weinbergsweg KG. The main tenant at the property is “The Circus” hostel.
The hostel is one of the top-rated hostels not only in Berlin, but in the whole of Europe. With The Circus hostel, the Circus Hotel and the Circus Apartments, The Circus Group currently offers around 500 beds in the area around Rosenthaler Platz. The property was upgraded during the sale phase through restructuring and conversion of the shopping space on the ground floor, together with a partial change in occupancy to include some new tenants. An agreement was reached not to disclose the sale price.
The seller's managing director, Andreas Becker, said: “Our requirements were certainly ambitious. In a very manageable time window, we not only wanted to find a suitable purchaser for the property, but also - for us as a hotel operator - to find a lessor with a long-term focus who was right for us. We are extremely happy with the process and outcome of the brokerage services provided.“