The Feuerlandhöfe in Berlin-Mitte will comprise 394 residential units as well as several retail and commercial areas measuring up to a total of 35,399 m² of space to let. The property will be completed and transferred fully let to a German institutional investor.
This investor directly acquired the site identified by the CG Group and jointly negotiated with the vendors, making purchase financing in the project development phase unnecessary.
The name of the project refers to the area’s history: in the 19th century, numerous enterprises in the metal industry sprung up close to the royal iron foundry in the Invalidenstrasse, and their blacksmiths' fires and smoking chimneys gave the name “Feuerland” (fire land) to this part of the city.
The project includes the site of the former bromide factory at Chausseestrasse 38-42a. This prolongation of Friedrichstrasse is one of the promising and highly sought-after upcoming locations in Berlin, directly opposite the new Federal Intelligence Service building with 5,000 employees.
The building was designed by Fuchshuber Architects of Leipzig. One third of the total building volume will be housed in the officially registered cultural heritage building. Various new parts will complement this typical Berlin courtyard building with 216 underground parking spaces and apartments ranging from 45 to 200 m² in size.
This residential complex will be equipped with modern technical innovations such as solar thermal energy and a rainwater recovery system as well as attractive art, colour and light design elements.
The CG Group continues its long-standing cooperation with Kondor Wessels with their largest joint building venture to date.
|Sales volume (GDV):||85,000,000 EUR|
|Area for rent/sale:||35,399 m²|
|Car parking spaces:||216||216 underground parking|
|Target rent:||13.75 EUR/m²||from 12.50 EUR/m² to 15.00 EUR/m²|
|according to features, size and location|
|Construction period:||March 2015 to June 2018|
|Year of construction:||2018|
|Object condition:||First time use|
|Heating type:||Central heating|
|Major Energy Carrier:||district heating|
|Energy certificate:||energy certificate required|
|Units:||264 (44–151 m²)|
|Description:||264 Residential units|
|Units:||130 (51–159 m²)|
|Description:||130 Residential units|
Renting of apartments will begin during the shell construction phase.
The object was sold turnkey and fully leased to a capital investment company (Versorgungskasse).
With an area of 892 km² and over 3.6 million inhabitants, Berlin, the Federal Republic of Germany’s capital, is its largest and most populous city, and the European Union’s second largest in terms of population. It forms the centre of Berlin-Brandenburg Metropolitan Region (6 million inhabitants) and is divided into twelve districts. Berlin is a global city in terms of culture, politics, media and science, as well as a main transport hub in Europe.
With the exception of 2009, Berlin saw steady population growth from 2004-2010. In addition to the positive and steadily increasing development of the natural population balance, it is primarily the influx of approximately 30,000 immigrants per year, particularly since 2011, which contributes to the positive overall development (5.9% population growth in the past decade). The federal capital predicts the population increase will continue, and the Berlin Senate Department for Urban Development expects a further growth of around 8 percent by 2030.
Berlin has been the up-and-coming European city in recent years. After decades of division, the megacity has once again become an important economic centre in the Metropolitan Region of Berlin-Brandenburg, and the hinge between Western and Eastern Europe. As a "global city" in terms of art, culture, politics, media and science, Berlin has, both nationally and internationally, a strong magnetic effect on young, urban and creative groups, giving rise to high immigration rates and diverse, vibrant neighbourhoods. Hardly any other city has piqued the interest of international investors so sharply like Berlin has in recent years. Relative to the expanding economy, the growing population and the increasing purchasing power, the property prices, while indeed also rising but still low when compared to other metropolises, play an important role here.
|Macro environment area:||892 km²|
|Macro environment population:||3,610,000|
|Macro environment population density:||4,047 Einwohner je km²|
|Macro environment unemployment rate:||9.5 %|
|Macro environment purchase power index:||91.4|
With regards to population, the part of Berlin known as Mitte is developing more dynamically than the city as a whole—between 2003 and 2012 it recorded a 10.5% increase. An above-average population growth of 8.5% is projected for the future, whereas the average for Berlin itself is 7.2%. The sharpest increase recorded was among the age group of 18 years and under, while people aged 28 to 55 have the strongest representation in the district. The purchasing power in the area surrounding the project’s location lies above that of Berlin’s total value, and the analysis of sociodemographic data shows an above-average development of Mitte—a development which will continue into the future due to the area’s excellent reputation and central location.
The current demand in Mitte’s housing market is very high. The rental prices have risen by roughly 36.8% since 2004, and experts predict a well above-average 21.6% rise by the end of 2018.
|Micro environment area:||10.70 km²|
|Micro environment population:||356,506|
|Micro environment population density:||9,032 Einwohner je km²|
|Micro environment purchase power index:||108.6|
|Distance to city centre:||2.5 km|
|Distance to railway station:||1.4 km|
|Distance to motorway:||4.5 km|
|Distance to nursery:||0.8 km|
|Distance to local public transport:||0.1 km|
|Distance to school:||0.8 km|
The project in Mitte lies a short distance from Berlin’s main railway station. The surrounding area is characterised by numerous large buildings such as the newly constructed Federal Intelligence Service building. The entire area is in a transition period and, in the coming years, will establish itself as a mixed-use location with considerable residential space.
Public transport makes going to and from the project’s location very easy. The already sufficient range of retail and services offered in the area will improve in the coming years; and the area’s social infrastructure is considered good, while nearby medical facilities are very good.
The housing complex will be equipped with modern technical innovations such as solar thermal energy and a rainwater recovery system as well as attractive art, colour and light design elements.