Ahen everyone who sensed a good deal has long since disappeared, someone is still amazed: “People come here and think you can buy a forest for 40,000 euros.” The man who says this sentence is sitting in the lobby of the Hilton Hotel in Cologne, wears glasses and a black suit with a white shirt and a burgundy handkerchief. A few minutes earlier, he bought property number 22 at an auction of Westdeutsche GrundstÐcknahmen AG for a bid of 123,500 euros – a 44,232 square meter forest property in Blankenheim, an hour’s drive south of Cologne, right on the border of an industrial park.
There is still no definitive development plan. But if the business park is eventually expanded, says bidder number 33, “it was a good deal.” He would have paid a maximum of 180,000 euros. More than three times as much as the woman in the back left of the room, who was no longer bidding at 47,000 euros. And the many telephone bidders, some of whom got out even earlier. And although the auction house adds a premium of around 8,800 euros to the 123,500 euros, the bidder with the 33, measured against the limit of 180,000 euros, seems to have succeeded in what everyone here sensed: a good deal.
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