YOUNIQ AG, one of the leading providers of high quality student apartments in Germany, has sold the "Alte Hauptpost" property in Leipzig to a project company owned by Grand City Hotels GmbH, Berlin. Earnings on the sale of the property that is located on the Augustusplatz in Leipzig were optimised with the sales proceeds exceeding the property's book value of EUR 6.2 million. This particularly serves to help YOUNIQ expand its core "Student Housing" business.
The "Alte Hauptpost" property in Leipzig's city centre comprises an un-renovated set of a total of four listed historic buildings. The land area of the property, which was acquired in 2007, stands at around 13,400 m². The buyer of the property is one of Europe's leading hotel management companies with around 100 hotels in Germany, the Netherlands, Belgium, Austria, Cyprus and Spain. Grand City owns more than 13,000 hotel rooms, and receives more than three million guests per year.
Rainer Nonnengässer, CEO of YOUNIQ AG, regards the company's core "Student Housing" business as being further strengthened as a result of the transaction: "As part of our strategic concentration on Student Living, the focus in the "Renting and Trading Real Estate" segment is on disposing of our real estate holdings in a manner that optimises earnings. This allows us to free up additional capital in order to further expand our core business."
YOUNIQ AG: YOUNIQ AG has focused on student accommodation since 2009. The company covers a significant range of the student accommodation value chain - ranging from the purchase of real estate and land, through project development including planning, planning permission procurement and construction, all the way through to commercial and technical management. YOUNIQ has developed into a leading provider for this segment with currently 2,453 high-quality apartments under management or under construction. These properties are located at eight sites in Germany, including Munich, Erlangen, Karlsruhe, Frankfurt am Main, Mainz and Leipzig. YOUNIQ bundles its many years of experience in the project development and asset management areas for largely residential properties. Drawing on its historic business operations, YOUNIQ AG holds an additional portfolio of 951 units that generate a stable rental income stream. YOUNIQ AG (ISIN: DE000A0B7EZ7, German Securities Identification Code/WKN: A0B7EZ) is listed on the Frankfurt Stock Exchange (General Standard).
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