Real Estate Transaction Constance DR. KADE Site

Between 1962 and 2019, DR. KADE operated a pharmaceutical production facility in the city of Constance on Lake Constance. Ointments and tablets were produced in various buildings on the approximately 27,000 square meters site. After the closure of the site after almost 60 years, the pharmaceutical manufacturer commissioned BÜRO DR. VOGEL GMBH exclusively on its own behalf with the sale of the property. More than 200 employees were employed at the site.

Task

The BÜRO DR. VOGEL GMBH had the task of developing a sales procedure for the site. The aim was to work out the potential of the site for different target groups. It was to be taken into account that both an immediate, continued use of the property as well as a further development of the company premises is possible.

Approach

The inventory of the DR. KADE site comprised office, laboratory, warehouse and distribution buildings with a total of around 13,000 square meters of gross floor area ready for occupancy after the closure of the site. The good condition of the buildings made it possible for new owners to use the properties immediately.

To illustrate the potential of the site, BÜRO DR. VOGEL GMBH developed a preliminary project development for the transaction process that was secured by a positive preliminary building permit. This ensured the urban development-oriented future densification and, in addition, the immediate construction of new buildings with a total potential of around 52,000 square meters of gross floor area. The pre-project development included concrete utilization scenarios and also worked out details such as user requirements planning for existing and new buildings.

Result / Added value

The comprehensive preparation of the property and its inventory, enabled potential buyers to approach with an immediate intention of use. In addition, the pre-project development made the potential of the property visible. The very elaborate preparation of the site and an intensive marketing process played a major role in ensuring that the originally expected market price for the entire site was ultimately achieved after a two-year marketing period, despite the very difficult market conditions for commercial real estate that have prevailed for some time. In total, the property was sold to three new owners.

Project volume

On request