Contact Us 020 7292 4710 020 7292 4710

Welcome to
MORGAN PRYCE’S KNOWLEDGE CENTRE


Our Knowledge Centre combines a unique set of useful tools to assist ALL office movers. Use our moving guides, office space calculator, dynamic rental map and other tools to get an idea of what type of office your company needs. We’ll make sure you get there.
Register for FREE now and get full access.

Enter

German investor rivals funds of Middle East

14th May 2014

German investor rivals funds of Middle East

This week The Guardian reported on the acquisition by a German landlord of almost £2 billion of prime London property. 

The fact in itself is not particularly newsworthy, but many of the properties he has added to his portfolio are landmark sites in the city, such as Liberty department store, Kensington Roof Gardens, Manchester United’s London offices, the art nouveau House of Fraser flagship store, and the Strand’s Shell Mex House, making the German one of the capital’s biggest investors in recent times. 

The man in question, Henning Conle, reportedly owns 10,000 properties in Germany, but is less than popular due to an alleged lack of interest in the properties themselves, particularly in terms of maintenance. Hamburg media apparently labelled him ‘the Phantom’ in the 1990s because of his inclination to remain a somewhat absent landlord of the 2,500 flats he owned in the city. 

Mr Conle’s company is called Sirosa, and clearly has a lot of funding behind it. The company beat off competition from Qatar Investment Authority in the purchase of Kensington Roof Gardens, while other deals range from £41 million to a reported £610 million. However, despite the amount spent, it is likely that, given the recent price rises in London, Conle and his company will have already benefited from their capital investment and rising prices. 

Despite reported complaints by tenants in his native country as to the care and repair of the flats they rent from him, in a quote to the newspaper, Conle responded: ‘There are no significant allegations regarding conscious negligence or illegal methods.’ It is true, also, that neglect of such iconic and period properties in the centre of London would be much more difficult to achieve. 

This news was brought to you by Morgan Pryce, a specialist tenant acquisition agent with offices in Oxford Circus and the City. Morgan Pryce specialises in search, negotiation and project management and works exclusively for tenants. Click here to start your office search


Login and get FULL AND FREE ACCESS to our unique Knowledge Centre.

Please note that we will not share your information with any third parties.

Forgot your password?

Please enter the email address used to create your account and follow the instructions to recover your password.

Didn’t receive an email? Check your spam inbox!

Create Your Account

Instructions have been sent to

Well Done!

Please check your inbox for a confirmation email.
You can manage your account details, email alerts and shortlists directly from your account.

or continue browsing

Loading...

Thank you for confirming your email address! You are now subscribed to our Newsletters.

By continuing your browsing on this site, you agree to the use of cookies used to perform visit statistics.

Accept