The Carré Charlotte II is a new project from the CG Group that entails the construction of another 124 apartments in close proximity to the Ernst-Reuter-Platz in Berlin-Charlottenburg. Premium rental flats and an underground car park will be built in two phases over an area of 5,043 m² at Otto-Suhr-Allee 22, 26 and 28.

During the first phase, a new building will close the gap in the Otto-Suhr-Allee, while the existing building (No 22) will be completely refurbished during the second. With 2,545 m² of living space in the old building and 5,904 m² in the new one, 2- to 5-room flats will be built using various floor plans and ranging from 37 to 154 m². Nearly all of the apartments in the 6- and 8-storey buildings will come with a balcony or terrace, parquet flooring, floor heating and high-quality bathroom facilities.

The completion of this project will bring 21,629 m² of space to let, 261 flats, two commercial units and 86 underground parking spaces to the heart of Charlottenburg at the campus of the Technical University of Berlin (TUB).

Overview
Project data and key figures
Project details
Sales volume (GDV): 27,700,000 EUR
Total area of the land: 5,043 m²
Area for rent/sale: 8,449 m²
Car parking spaces: 17 17 underground parking
Target rent: 14.00 EUR/m² from 12.00 EUR/m² to 15.00 EUR/m²
according to features, size and location
Construction period: August 2013 to March 2017
Object condition: First time use
Heating type: Central heating
Major Energy Carrier: district heating
Energy certificate: energy certificate required
New building
Object type: residential
Area: 5,831 m²
Units: 97 (37–112 m²)
Description: 97 residential units plus 119 m² commercial/office space
Old building
Object type: residential
Description: 27 residential units plus 138 m² commercial/office space
Image Gallery
Current status rental and sale
Current state letting

Letting of apartments has started.

Current state letting
100%
124 from 124 units are rented
Current state sale

The property was sold turnkey and fully leased to a capital investment company (Versorgungskasse).

Current state sale
100%
124 from 124 units are sold
Property specification - Micro environment / Macro environment

Berlin

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

Charlottenburg (City-West)

Charlottenburg is traditionally a popular neighbourhood due to its central location in Berlin’s urban area, very good infrastructure and its attractive Gründerzeit quarters. In particular, the area around the Kurfürstendamm has always maintained a high prestige factor. Shortly after Germany’s reunification, the western part of the inner city lost a bit of significance; however, in recent years a renaissance of the City-West has revealed itself. These developments also radiate out to the areas somewhat more distant from the “Ku'damm”, such as that of the project site. At the same time, the project area is located in an overall less prestigious part of Charlottenburg—average and above-average locations predominate the area.

Charlottenburg’s social structure is considered moderate to good; the area is highlighted by its positive population development. An above-average number of singles live in the area near to the inner city; and the neighbourhood is characterised by a slightly below-average purchasing power and a relatively younger population structure, particularly age groups between 18 and 45 years.

 

 

Micro environment area: 65.00 km²
Micro environment population: 326,354
Micro environment population density: 5,043 Einwohner je km²
Micro environment purchase power index: 106.1
Property environment
Distance to city centre: 0.8 km
Distance to railway station: 1.2 km
Distance to motorway: 2.4 km
Distance to nursery: 0.3 km
Distance to local public transport: 0.3 km
Distance to school: 0.8 km
Construction specifications

Newly constructed building

Contact
Contact Persons

Klaus Hüpping
klaus.huepping@cg-gruppe.de

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