German listed company Vivacon has sold the Salamander area in Kornwestheim to Immovation Immobilien Handels in Kassel. Financial details were not disclosed.

The listed total area covers a gross floor area of approximately 90,000 m2, which is currently used commercially. Roughly half of the remaining part of the reconstruction is planned for residential purposes.

The transaction is an important part of the ongoing restructuring of the Vivacon group, the company said in a press release. The disposal further reduces its bank debt and avoids further commitments of liquidity and resources during the construction phase. Under the restructuring, the company will focus on asset management and the sale of real estate particularly under leasehold conditions.