Sky Office in Düsseldorf for sale

Orco Property Group wants to sell the office building by the end of the year.

Orco Property Group is looking for a new owner for Sky Office building, which it intends to sell by the end of the year. According to projections the transaction should bring the company an income of 40 - 50 million Euro - announced "Gazeta Wyborcza".

Sky Office is a 23-storey office structure situated in Kennedydamm zone within 1 km of Düsseldorf. In the building's vicinity there are premises of companies such as Siemens, Deloitte & Touche, Roland Berger, DGB, L`Oreal and IBM.

Last year Orco Property Group incurred 7.5 million Euro of consolidated net loss with incomes at the level of 73.6 million Euro. Company management expects this years income to vary between 340 and 370 million Euro. This result is to be achieved through sale of assets and income from lease and developer activity.

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