Ost comprises a total lettable area of almost 11,600 sq m including office, hotel and logistics space. Savills acted as exclusive advisor to the vendor throughout the entire brokerage process.

Neighbouring FIRMWERK West site was already sold to German real estate services provider CORPUS SIREO Real Estate GmbH, a subsidiary of Swiss Life Asset Managers, at the end of 2020.

"We are delighted with the acquisition of the site and would like to thank all parties involved. We intend to reposition the site shortly as a new hub in Cologne, offering diverse and modern facilities with urban flair," says Zeev Laufer, Managing Director, Sh.i.r. Real Estate Germany.