Deal Time: #2 Lübke Kelber Facilitates Sale of Iconic Kugelhaus in Dresden to NORKON
The expert team from Lübke Kelber’s Dresden branch has successfully facilitated the sale of the Kugelhaus in Dresden. The high-street property comprises approximately 5,000 m² and is centrally located at Wiener Platz, in close proximity to the main train station. The transaction was concluded between the seller, a fund managed by KanAm Grund Group, and the buyer "IROKO SCPI" (represented by NORKON). The property is primarily used for retail, with the anchor tenant being the sports retailer Decathlon.
Andreas Ziegler from NORKON states: "We are delighted with this transaction and would like to express our gratitude for the excellent and consistently professional collaboration with all parties involved. The Kugelhaus is a true landmark building and, not least due to its prime location, a valuable asset for the Iroko Zen fund."
The Kugelhaus was opened in 2005 and underwent extensive revitalisation in 2018. With its western entrance serving as a gateway to the city centre, the property connects directly to the bustling Prager Straße. Its prominent location makes it a prime high-street property.
Particular attention is also drawn to the well-known rollercoaster restaurant located in the dome of the building's signature glass sphere.
"The successful facilitation highlights the growing importance of landmark properties in the retail sector," says André Heinrich, Head of Transaction Dresden at Lübke Kelber, adding: "Our in-depth market knowledge and many years of experience were key to the successful completion of this transaction. Our broad national and international network also played a decisive role. The modern Kugelhaus carries forward the tradition of the historical Kugelhaus and is a distinctive feature of Dresden’s city centre. We extend our thanks for the trust placed in us and for the exceptionally good and professional collaboration."