OLB building on Norderney: sold for seven million euros!

OLB building on Norderney: sold for seven million euros!

The OLB building on Strandstrasse in Norderney is offered for sale. The Oldenburgische Landesbank (OLB) has set the sales price at seven million euros and is now looking for an interested buyer who recognizes the potential of the property. The building, which has been mostly empty for over three years, includes sales and storage space as well as offices and apartments. What is interesting is that two of the apartments are already rented.

The bank branch in Norderney was closed at the beginning of 2022, and the building was sold about two years ago, but this had to be reversed at the beginning of 2024. The reversal was necessary because various plans for the use of the property could not be implemented. The listed building, whose protection primarily concerns the facade, requires clarification regarding its use and development.

Development potential and location

With a property size of around 780 square meters, the OLB building offers interesting development potential. The possible addition of around 600 square meters of living space on the courtyard area could create additional usage options. These features make the property particularly attractive for investors.

In addition to the OLB building, another historic building on Norderney is for sale: the former Imperial Post Office at Poststrasse 1. This building has a long history and unique architecture and is considered an important cultural attraction on the island. The real estate consulting firm Robert C. Spies is responsible for exclusive sales. The former post office, which was built between 1891 and 1892, is now also a listed building and looks back on extensive renovation work in 2010/11. It also received an extension in 2012.

• Im Erdgeschoss der ehemaligen Kaiserlichen Post befinden sich Einzelhandelsgeschäfte wie Rossmann und Store Kontor, die Marken wie Street One und Cecil führen.
• Die oberen Geschosse sind hauptsächlich als Personalwohnungen genutzt.
• Zusätzlich gibt es eine Arztpraxis und Einheiten für freies Wohnen.
• Lediglich eine Ladenfläche ist derzeit unvermietet.
• Der Verkauf des Gebäudes erfolgt gegen das höchste Gebot.

Norderney itself is the second largest East Frisian island and part of the Wadden Sea UNESCO World Heritage Site. With a length of 14 kilometers, the island offers a varied landscape that attracts both locals and tourists. The competing real estate offers could draw the attention of potential buyers to the valuable historical building structure and open up new investment scope.

The development of both properties will be closely monitored in the coming year. It remains to be seen what potential the market can actually exploit. Norderney ZS and District newspaper report on the latest developments in this area.