TA Europe has a strong track record in Germany and was delighted to support one of our trusted clients with a technical due diligence of the shopping centre Nova Eventis – their investment in Germany. Due to the ongoing popularity of real estate investments within the eastern part of Germany, this purchase was a positive step within the German real estate market.
The shopping centre “Nova Eventis” provides an approx. 300.000 sqm property area. It was designed and built most recently between 2004 – 2006 and comprises a large two storey shopping mall with connecting multi-storey car park facilities and access roads. There are further buildings located on site including a multiplex cinema, a retail building, a fast food restaurant, external car park facilities and external areas including a Leisure Park. There are at least 7.674 parking lots available.
The shopping mall consist of total lettable area of approx. 94,600 sqm plus a parking garage with approx. 37,593 sqm.
The Nova Eventis complex is located in Leuna / Günthersdorf, which is roughly 15 minutes car ride from the airport of Leipzig / Halle. Furthermore, the complex is located 30 minutes by car from the city center of Leipzig. Due to the fact that the complex includes a UCI cinema, a climbing park and a well-known fast food restaurant, the catchment area is comparatively large.
TA Europe lined up an experienced team of local engineers and technical experts to cover all local specifics of the transaction. Our experienced Germany based technical Transaction Manager Sebastian Frohwann was the interface to our client, who collected all facts and results to ensure that all technical contributions are presented according to the client specific needs.
TA Europe provided a technical due diligence of the shopping centre consisting of:
- Inspection of the existing building fabric incl. the technical building equipment and plausibility check of the building areas
- Data-room research; list of the documents that have been reviewed
- Examination of the as-built and revision documentation and comparison with the status quo of the building permit
- Indication of missing documentation and documentation that have to be procured (e.g. maintenance reports)
- Description of the risks that have been identified during the Technical Due Diligence
- Listing of the identified defects during the Technical Due Diligence and assessment of the repair and renovation costs in a CAPEX table
- Examination of the contamination and pollutant
- Detailed documentation on structural, technical, fire protection and environmental issues.
