HOCHTIEF Projektentwicklung sells residential property at Europaviertel West off-plan
Around 140 rental apartments plus grocery supermarket planned on gross floor area of just under 20,000 square meters
Residential and commercial property “Am Europagarten” in Frankfurt(firmenpresse) - HOCHTIEF Projektentwicklung has sold its planned residential and commercial property “Am Europagarten” in Europaviertel West to ABG FRANKFURT HOLDING Wohnungsbau- und Beteiligungsgesellschaft (ABG), who have bought the project with a gross floor area of almost 20,000 square meters off-plan for EUR 47 million. Prior to that, HOCHTIEF Projektentwicklung had already agreed a long-term lease with the REWE for just under 3,000 square meters of retail space on the ground floor. Construction is due to start in summer 2011. The grocery supermarket will move in at the end of 2012, while the apartments should be ready for their new tenants by early 2013.
The property, which has up to seven floors, is being laid out on a comb-shaped floor plan: The main element faces onto Boulevard West. The other side will overlook the future Pariser Strasse and will have three landscaped inner courtyards. In the four to six upper levels, there will be a gross floor area of almost 16,000 square meters, built to passive house standard. In addition, the project foresees an underground garage with 225 car parking slots. “The first house on the plaza will also be the first building with rental apartments in the ‘Boulevard West’,” is the satisfied comment from Markus Brod, Manager of the HTP Rhine-Main Branch of HOCHTIEF Solutions. The REWE grocery supermarket, will also contribute towards covering everyday shopping needs in the quarter. HOCHTIEF Projektentwicklung purchased the 4,700 square meter lot only four months ago from aurelis Real Estate. The investor, ABG, a housing and real estate group owned by the City of Frankfurt am Main, intends to manage and let the two to five-room apartments itself.
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Unternehmensinformation / Kurzprofil:
HOCHTIEF is one of the leading international providers of construction-related services. With more than 70,000 employees and a sales volume of EUR 20.16 billion in FY 2010, the company is represented in all the world’s major markets. The Group’s service offering in the fields of development, construction, services, concessions and operation covers the entire life cycle of infrastructure projects, real estate and facilities. In the USA, the biggest construction market in the world, HOCHTIEF is the No. 1 general builder via its subsidiary Turner Construction and, with Group company Flatiron, ranks among the most important players in the field of transportation infrastructure construction. With its subsidiary Leighton (HOCHTIEF share around 55 percent), the Group is market leader in Australia. Because of its engagement for sustainability, HOCHTIEF has been listed in the Dow Jones Sustainability Indexes since 2006.
HOCHTIEF Solutions consolidates the core business of the HOCHTIEF Group in Europe and in selected regions worldwide. The company plans, develops, builds, operates and manages real estate and infrastructure facilities. HOCHTIEF Solutions AG is the management company of the Group’s Europe division and employed more than 15,000 people around the globe in fiscal 2009. In many regions and segments, the company is a market and innovation leader.
HOCHTIEF Projektentwicklung is a fully owned subsidiary of HOCHTIEF und organizational related to HOCHTIEF Solutions. Since 1991 the company has been developing, realizing and marketing real estate projects in Germany and abroad and is considered Germany’s leading inner-city developer. Its core business comprises office buildings in central business districts and areas within easy reach of city centers. It also focuses on retail properties, residential properties and accommodation for senior citizens, and the development of entire urban quarters. Hotels, distribution centers and special-purpose properties are also among the product market segments which the company addresses. HOCHTIEF Projektentwicklung GmbH does not build up any property portfolio of its own but operates as an “interim investor” with the goal of selling its projects to a final investor as swiftly as possible.
HOCHTIEF Solutions AG
Communications
Gabriele Stegers
Alfredstrasse 236
D-45133 Essen
Tel.: +49 201 824-2282
Fax: +49 201 824-1728
E-mail:gabriele.stegers(at)hochtief.de
Datum: 18.04.2011 - 11:32 Uhr
Sprache: Deutsch
News-ID 29326
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contact information:
Contact person: Gabriele Stegers
Town:
Essen
Phone: 0201 824-2282
Kategorie:
Business News
Typ of Press Release: Erfolgsprojekt
type of sending: Veröffentlichung
Date of sending: 18.04.2011
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