CB Richard Ellis (CBRE) has been appointed as agent for the sale of the controversial Wertheim site on Leipziger Platz in Berlin, Germany.
The 4.94 acre site is owned by the Conference on Jewish Material Claims against Germany and has been the subject of a 14-year Holocaust-era restitution case.
It was once the location of the Wertheim department store, owned by the Jewish Wertheim family until the outbreak of World War II.
The family’s assets were then seized by the Nazis and the department store was almost completely destroyed by a major allied offensive on 3rd February 1945.
The site, one of the last landmark sites in the federal capital, is also one of the largest vacant lots to come on the market in Berlin in recent years.
Fabian Hüther, head of CBRE’s investment team in Berlin, said: “A two hectare development site in the centre of the federal capital: I cannot envisage any other site in Germany at present which offers more opportunity. The hearts of investors and developers will beat faster.”
References: EGi News 30/05/06
