A renowned developer has sold the office property Sigmaringer Straße 107 in Stuttgart-Möhringen. The purchaser is a trust based in the region. Savills, a leading global real estate services provider, successfully advised on and negotiated the disposal. The sale price was approximately €13.5m.

The core property, built in 2005, is fully let to HANSA Armaturen GmbH and provides a total lettable area of approx. 5,560 sq m. Sigmaringer Straße 107 is located in the district of Möhringen in the south of Stuttgart.

"Stuttgart benefits not only from the generally high demand for German real estate but also from the fact that prices in the city are not yet as high as in most of the other top seven markets. Around €660m was invested in commercial property in Stuttgart during the first half of 2015, which was 18% higher than last year's above-average figure," says Dr. Frank Urfer, Director and responsible for investment in Stuttgart and Munich at Savills.

 "The capital of Baden-Württemberg is an extremely interesting market in the current environment, particularly for risk-averse investors. Although Stuttgart's economic fundamentals compare with those of the other top markets, core properties are not yet quite as expensive in the city. The Stuttgart market is, therefore, likely to see above-average levels of activity for the remainder of the year," says Andreas Wende, COO and Head of Investment Germany at Savills.