Built in the 1970’s, the Steglitzer Kreisel is amongst Berlin’s best-known landmarks. The imposing, 118.5-metre-tall office tower is hard to miss. Vacant for many years, the former administrative complex is now celebrating its new lease on life as an elegant residential tower with exclusive, well-lit flats—complete with a breathtaking view of the capital.
In the former office tower as well as the base levels below, condominiums are being developed for private capital investors. The entire building complex is being thoroughly renovated.
|Investment volume:||330,000,000 EUR|
|Total area of the land:||17,620 m²|
|Car parking spaces:||1320||267 underground parking / 1053 overground parking|
|Construction period:||July 2017 to July 2021|
|Object condition:||no Information|
|Heating type:||no information|
|Major Energy Carrier:||no information|
|Energy certificate:||no information|
|Units:||10 (61–680 m²)|
|Description:||Retail, hotel & office|
|Units:||65 (35–85 m²)|
|Units:||10 (105–4,146 m²)|
|Description:||Retail & office|
|Units:||329 (32–230 m²)|
|Description:||Condominiums in Tower|
The leasing of retail space on the ground floor, commercial and office space, space for medical practices as well as the rental flats is handled by City Hausverwaltung.
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:||8.8 %|
|Macro environment purchase power index:||91.4|
In recent years, 70,000 people have moved to the middle-class district of Steglitz—and with good reason.
Today Steglitz is one of the most coveted areas in Berlin as it offers both the city life and the outdoors. Located in the southwest, the residents here benefit from quick and easy access to the centre of Berlin, the border of the Brandenburg countryside and many lakes.
Schlossstrasse, the second largest shopping street in all of Berlin, represents Steglitz’s city centre. Not only does this area include the Steglitzer Kreisel, but also the Steglitz town hall and the Schlosspark Theatre. Upon leaving the lively road, you find yourself surrounded once again by parks and quiet residential streets. The nearby Botanic Garden is amongst the most diverse gardens in the world.
Additionally, Steglitz is known for its many educational institutions, including not only preschools, but also primary, secondary and vocational schools.
|Micro environment area:||1,026.00 km²|
|Micro environment population:||299,268|
|Micro environment population density:||2,918 Einwohner je km²|
|Micro environment purchase power index:||106.4|
|Distance to city centre:||5.8 km|
|Distance to railway station:||5.5 km|
|Distance to motorway:||0.1 km|
|Distance to nursery:||0.4 km|
|Distance to local public transport:||0.0 km|
|Distance to school:||0.4 km|
The Steglitzer Kreisel is centrally located in Berlin’s southwest Steglitz-Zehlendorf region. The Schlossstrasse, with its shopping centres and department stores, begins right at the building’s front door. Berlin’s City-West lies 5.8km away and is reached comfortably via the underground. A station for both the underground and urban railways as well as busses lies just outside of the building. The motorway A103 begins at the building as well. Numerous children’s nurseries and several schools can be found within a one-kilometre radius. The Botanic Garden is just a short walk away.
The appearance of the property will change entirely: the façade of the dark administrative building will be completely replaced using bright, appealing and modern materials; and the façade’s varying designs will once again reflect the building’s variety of individual uses. Each apartment will receive a loggia or balcony, altering and repartitioning the building’s structure. 329 residential units will be integrated into the high-rise building—between just four and eight apartments on each floor. Ceilings over 3.5m in height combined with upscale features typical to CG products, such as floor heating, large Italian tiles and floor-level showers in the bathrooms, large windows extending to the floor in all rooms and brand-name kitchen units, will create a living atmosphere of the highest level. Each of the 329 apartments will have layouts, facilities and rental yields appropriate to where they are located within the complex. The end result will be suitable for everyone—from students to families to the exclusive, upper-floor tenants.