RFR Holding has bought the Ampere building in Berlin from Avignon Capital for just over €80m (£67m).

The listed 126,000 sq ft building is located in Prenzlauer Berg, a popular area for young creative companies in Berlin. It is fully let to GetYourGuide, a tech firm, who are using it as their global headquarters.

Avignon, the asset manager, acquired the building in 2016 on behalf of a private client, and proceeded to refurbish it. 

“The sale of Ampere concludes the 3-year business plan to create a vibrant modern campus in which we were able to deliver returns that exceeded our original business plan,” said Patrick Flaton, chief executive at Avignon Capital.

“Avignon identified an opportunity in 2016 to acquire a building with excellent upside potential and we are delighted that our asset management vision has proved successful and delivered a building fit for the modern-day occupier whilst retaining the historic character.

“The Ampere building is an important historic building and this sale marks the next stage in the building’s lifecycle.

“Furthermore, this transaction reinforces that active asset management capabilities can deliver superior returns and we are pleased to have achieved a strong result for our client. The proceeds from this sale will be reinvested and we are actively looking for more opportunities in the Berlin market.”