First German acquisition for London property investor ahead of countrywide expansion plans

A UK property investment firm has announced that it is expanding overseas with its first acquisition in Germany.

Castleforge Partners, based in London, has acquired an office building in the town of Bremen, which it says is an “ideal” location for its first German acquisition.

The 5,000 sq m Martinistrasse building is currently at 63 per cent occupancy, and was acquired in an off market deal.

It said that this is the first of several acquisitions in “secondary” cities across the country, and is aiming to announce further German purchases over the next 18 months.

Brandon Hollihan, founding partner of Castleforge Partners, commented: “We are thrilled to announce our first acquisition in Germany as we look to invest significantly in more secondary cities across the country over the next 18 months.

“Bremen has a thriving economy, with a generation of young professionals and start-ups who are increasingly seeking flexible-office models as opposed to the usual traditional offering.

“Following the success of our flexible workspace provider Clockwise in locations across the UK, we are now looking forward to refurbishing the building and saying ‘Willkommen’ to our first Clockwise members in Bremen.”