Office and retail property in an eye-catching corner location of market square fully let again

Multi-family office DERECO is concluding a long-term tenancy agreement covering approx. 1,500 sqm of floor space in No. 1, Am Markt in Höxter with the gym chain wellyou Fitness. The contract is for two units in the basement which are 1,000 and 500 square metres in size, respectively. The permit to convert the smaller of the two units has been applied for; the company expects it will be granted by Q3, 2023. DERECO had acquired the property from Fokus Development AG in 2017 and has been managing it through its own asset managers ever since.

Sonia Pezzotta, Head of Asset Management at DERECO, said: “We are pleased we’ve once more been able to fully utilise the floor space we own in this central location again. The property is on an eye-catching corner in a part of central Höxter with an extremely high amount of footfall, so it’s an integral part of the urban fabric. The tenant we’ve partnered up with called wellyou is a renowned company providing fitness and healthcare-related services. Consequently, local residents will have continued access to such services in a central spot.”

Lars Bönisch, who is in charge of expansion at wellyou Fitness, said: “As the building meets state-of-the-art technical standards and is located in the very heart of Höxter, the facilities we’ve rented are outstandingly suited for a high-quality workout experience which will benefit our members. The gym we’re going to operate will cover some 1,500 square metres of floor space, which makes it the largest in the Höxter region. It’s a unique value proposition featuring an attractive combination of the latest equipment and a full range of services.”

In total, the building in Höxter’s pedestrian zone consists of seven rental units. It was completed as a comprehensive re-development project meeting the latest construction standards to replace the former Hertie department store. Lettable gross floor space within this office and retail property totals approx. 4,500 square metres. The four-storey building provides attractive space for various purposes such as retail, catering facilities, a gym and a surgery. The main tenant is Müller, a chemist’s chain. The property is excellently situated right in the centre of Höxter. As several buses stop nearby and there are numerous car parks in its immediate vicinity, it’s easy to reach.