Landmark with rosy prospects, City Tower to be transformed into a modern residential tower?
CG Group rises high! Next evolution stage in project development.
Decades of experience in developing new buildings, existing buildings, changes of use for vacant manufacturing buildings and office blocks has been emphatically proved. Demand by institutional investors for CG products remains high. In order to further diversify the product range, we have cast an eye on resources hitherto neglected in housing construction – the disused office high-rise.
Buildings of this kind exist at different locations, the substance of the building is usually good and there is no reason not to use this resource for housing. Not least due to economic grounds, the allocation of existing resources can make a decisive contribution to easing the tension on the housing market. Such locations come into question in Berlin, Frankfurt and in parts of North Rhine-Westphalia. The idea was triggered by the Steglitzer Kreisel, a Berlin landmark which offers the potential for successful project development, not least due to its history. This commercial and office property, which has stood largely unused for many years, has been waiting for sensible use for decades.The CG Group has opened up the possibility to refurbish and redesign it. The building complex comprises
48,000 m², including a base building, a 120 m tall high-rise tower and a parking garage. It is the subject of intensive planning with the involvement of experienced national and international specialist planners in high-rise construction. The revitalisation of high-rise buildings in Germany represents future potential for substantial housing construction. In future, CG Group will focus on this resource intensively.
|investment volume :||277,000,000 EUR|
|Property Type:||commercial and residential|
|total area of the land:||17,620 m²|
|rentable total area :||47,956 m²|
|"City-Häuser"||4,425 m²||66 units from 35 m² to 85 m²|
|"City-Tower"||24,166 m²||182 units from 35 m² to 250 m²|
|"Handel, Praxis & Hotel"||20,004 m²||22 units from 62 m² to 12,900 m²|
|car parking spaces:||1,077||1,315 spaces overground|
|target rent:||16.95 EUR/m²||from 9.00 EUR/m² to 25.00 EUR/m²|
|Je nach Lage und Ausstattung durchschnittlich zwischen 9,- und 25,- €/m²|
|construction:||March 2017 to December 2018|
|Object Condition:||No Information|
|Heating Type:||No Information|
|Major Energy Carrier:||No Information|
|Energy Certificate:||No Information|
current status renting
96 from 270 units are rented
Component "trade practice & Hotel" fully leased.
Component "City Homes" fully leased.
Component "City Tower" untenanted (restoration in progress).
current status sale
0 from 270 units are sold
The property is being sold turnkey and fully leased.
Berlin is the capital city and the seat of government of Germany. The city state of Berlin is an independent federated state of Germany and is the center of the Berlin/Brandenburg Metropolitan Region. Berlin is the largest and the most populous city in Germany and the second largest city in the European Union.
Berlin is an important political, cultural, scientific and media center of Europe. The metropolis is an important traffic junction and is one of the most visited cities of the continent. Berlin’s outstanding institutions such as universities, research institutions, theatres and museums have gained international recognition. Therefore it is an attractive magnet for tourists and artists from over the world.
More than 80 percent of the companies based there are from the service sector. In particular, organic and medical technologies, pharmacy, art, media, information and communication technologies belong to the growth industries of the city. The biggest companies based in Berlin are Siemens, Deutsche Bahn and Vattenfall Europe.
|population density:||3,939 inhabitants per km²|
|purchasing power:||2,696 EUR|
|purchase power index:||94.5 %|
In the recent years 70,000 people have moved to the bourgeois district Steglitz with good cause.
Nowadays Steglitz is one of the most coveted districts in Berlin, because it offers both: city life and nature. Located in the southwest it benefits of his brief connection to the center of Berlin and the border with the Brandenburg countryside and many lakes.
Center of Steglitz is the Schloßstraße, the second largest shopping street in all of Berlin. Here is not only the Steglitzer Kreisel located, but also the Rathaus Steglitz and Schlossparktheater. Leaving the lively road, you find yourself surrounded by parks and quiet residential streets again. The Botanical Garden is one of the most diverse gardens in the world is very close by.
In addition Steglitz is known for its many educational institutions, that include not only nursery school, but also primary- and secondary schools.
|population density:||10,807 inhabitants per km²|
|purchasing power:||3,040 EUR|
|purchase power index:||106.4 %|
- city centre:
- 4.8 km
- 0.4 km
- local public transport:
- 0.1 km
- railway station:
- 3.8 km
- 0.1 km
- 0.4 km
The appearance of the entire property will change completely: the dark administrative building will be given a completely new façade with light, appealing modern materials. The structure will be altered and newly pportioned by loggias and balconies for each apartment. The different types of use will be reflected in the different façade designs. Around 182 residential units will be integrated into the high-rise building, each floor having between only four and eight apartments. Ceilings in excess of 3.50 m in height and the CG-typical high-quality fit-out features such as under-floor heating, large Italian tiles and floorlevel showers in the bathrooms, large windows down to floor level in all rooms and brand name kitchens create a living atmosphere of the highest quality. 248 rented apartments will be created in the entire complex, with different fit-outs and rent yields, depending on where they are located. The target group ranges from students to families to exclusive tenants on the upper floors.
Dipl.-Kfm. Jürgen Kutz
CG Gruppe AG
Wilmersdorfer Straße 39
If you have any questions,
+49 (0) 30 / 85 74 736 - 20
please call us.:
+49 (0) 30 / 93 62 72 83
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