DGAP-News: GWB sells retail property in Wuppertal

GWB Immobilien AG / Disposal

04.08.2010 09:13 

Dissemination of a Corporate News, transmitted by
DGAP - a company of EquityStory AG.
The issuer / publisher is solely responsible for the content of this announcement.

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Hamburg, 4. August 2010. GWB Immobilien AG has sold a retail property from
the company's portfolio. Agreement was reached with the buyer that the
purchase price in the lower double-digit million euro range is not to be
disclosed. The property in Wuppertal is a self-service department store
with 8,520 m² of rental space that is rented to the real,- corporate group
(METRO).

Since the authorities in the city of Wuppertal stopped all existing
projects about new retail properties in the city in 2007, it cannot be
expected that comparable new properties will be coming on the market in
Wuppertal in the foreseeable future. This decision made the property that
has now been sold considerably more attractive. The current rental contract
with real,- is a triple net contract. This special arrangement commits the
tenant to pay not only rent but also all the ancillary costs associated
with the property.

'We intend to sell further properties from our portfolio, including such
smaller properties as Guben, Röbel, Bad Sülze, Anklam or Bad Freienwalde as
well as the Spaldinghof property in Hamburg', explains Dr Norbert Herrmann,
CEO of GWB Immobilien AG. 'We are expecting the proceeds of the sale of
these properties to be somewhere between EUR 6.0 and 8.0 million. There are
loans of only EUR 3.3 million on these properties, so that there would be
an attractive inflow of funds for GWB from the sale of them.'


About GWB Immobilien AG

GWB is listed in the Prime Standard at Frankfurt Stock Exchange. Over a
period of more than 15 years, the GWB corporate group has developed into a
specialist for the implementation of large retail projects and for the
revitalisation of retail properties. The focus is on medium-sized towns and
suburban areas. The strength of the GWB business model is that the company
acts as a single, integrated source for the provision of all the necessary
services, covering the entire supply chain from project development and
construction to marketing and management. More than 40 projects have been
completed successfully.

Further information is available on the company website
www.GWB-Immobilien.de. 

Kirchhoff Consult AG
Janina Wismar
Phone: +49 (0) 40 60 91 86-50
janina.wismar@kirchhoff.de




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Language:     English
Company:      GWB Immobilien AG
              Hauptstraße 1a
              22962 Siek
              Deutschland
Phone:        +49 4107 9080-0
Fax:          +49 4107 908072
E-mail:       info@gwb-immobilien.de
Internet:     www.gwb-immobilien.de
ISIN:         DE000A0JKHG0, DE000A0JRVH4, DE000A0JRVJ0 
WKN:          A0JKHG
Listed:       Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
              in Berlin, Düsseldorf, Hamburg, Stuttgart
 
End of News                                     DGAP News-Service
 
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