TA Europe has extended its experience in providing technical advice and expertise in the healthcare and residential sectors by recently supporting client INTERNOS (now known as Principal Real Estate Europe) in the Technical Due Diligence (TDD) review of a relatively recent completed care home development in Hagen, near to Dortmund.
The care home, known as ‘Wohlbehagen am Schlossberg’, was constructed in 2017 and is located in the centre of Hagen-Hohenlimburg, with an offering of 80 single rooms and a further 10 apartments for assisted living, along with communal facilities for residents, with a total lettable area of some 4,700m². The care home comprises a new build development on a site near to the railway station, where there was a derelict former school building previously, thereby assisting the wider regeneration of the town centre.
TA Europe is very pleased to have supported INTERNOS on this property with a technical appraisal enabled by a wealth of relevant technical and property advice and expertise. The Technical Due Diligence team comprised not only a Germany-based Chartered Building Surveyor but also local MEP engineer, all with experience of numerous other care home and senior living facility technical assessments, both single asset and portfolios of care facilities, of either as-built assets or similar residential developments under construction or in planning, where technical expertise for project and fund monitoring is required for the investment appraisal and acquisition by our clients.
As well as technical advice, the TDD team could add value to the review through expertise provided by a team member surveyor with residential sector and town planning experience of similar developments in the Federal State of North-Rhine Westphalia, where TA Europe also has an office base, in Essen. This experience related to TDD and monitoring advice that TA Europe has also been offering to investor clients on residential schemes such as student housing or micro-apartment residential developments, which we find are becoming more and more popular and attractive as a property investment option to our international and domestic German clients, offering solutions to the housing and residential accommodation shortages, particularly in inner city locations, across Germany.