Blue Towers in Frankfurt Niederrad
“Transformation of two office towers into micro apartments“
Frankfurt-Niederrad is the near city district, which is developing from an office district to an urban living area, a modern combination of life, living and work.
In the Blue Towers, more than 350 bright and modern apartments for personal use are being built across 13 storeys in the towers and 6 storeys in an additional apartment block. The ground floor has space for shops, a gym, restaurants and offices. An all-round service including concierge services, facility management and additional services for personal use are available on request.
These are mainly 1 and 2-roomed apartments, which are available as either fully or partially furnished housing.
The ground floor will accommodate restaurants and shops. The two-storey underground car park offers more than 400 parking lots.
Completion is scheduled for mid 2019.
Residential park in Oldenburg
“Development of the Ammergauer residential park“
The development of a residential park with 16 residential units and a living area of around 1,313 m² is planned in Oldenburg (about 45 km west of Bremen). The Grounds purchased the property with a total plot size of 1,617 m² in 2017.
The building application will be filed in 2017 still. This project is not intended for The Grounds Group portfolio, an exit is possible per individual sales of the residential units in 2018 and/or upon authorisation of the building permit.
Micro apartment facility in Frankfurt am Main
At the end of September 2017, The Grounds Group purchased a plot with an area of 5,683 m² in the Gutleutviertel in Frankfurt am Main, in a central location close to the Main Station. The Grounds Group plans to develop a four-storey micro apartment facility (Boarding House) inclusive of an underground car park, restaurants, conference rooms and a gym.
The commencement of construction is expected at the beginning of 2019. It is intended to market the majority of these micro apartments individually for commercial use prior to the start of construction.
Hotel Terminal 3, Neu Isenburg (Frankfurt am Main)
The Grounds Group plans erecting a commercially used micro apartment facility or alternatively a hotel with an adjacent underground car park on the 8,400 m² plot at Terminal 3 (Neu-Isenburg) of Frankfurt airport, which is still under construction, it was purchased at the beginning of October 2017.
Since it is not yet clear whether the multi-year lease agreements with existing tenants for the currently existing building on this site will be extended, the exact planning period is still uncertain. Commencement of construction is intended at the beginning of 2020, corresponding with this, completion is scheduled for the simultaneous launch of operations of Terminal 3.
Site development Schwarzheide - residential properties
In Schwarzheide (about 110 km south of Berlin) The Grounds Group plans developing residential properties on a building ground of 10,000 m². Detailed project information has not yet been finalised, the construction concept still has to be coordinated with the municipality.
Development measures and construction could start as of 2019; completion of the residential property would then be possible around 2021.
Modern living in apartment house in Magdeburg
In Mid-February 2018 The Grounds Group purchased a land in a central location in Halberstädter Strasse, Magdeburg. This will be used as a further project development for micro-apartments and furnished accommodation. Apartments with a total living area of approx. 4,000 m² are planned, together with 30 underground car parking spaces. The investment volume for the land and building is around EUR 10.50 million. The right to build exists for the property, and corresponding building applications are currently being prepared.
The property is suitable for both sale and subsequent portfolio holding by The Grounds Development AG. Magdeburg, the capital city of the State of Sachsen-Anhalt, has shown a positive development in population numbers since 2012, and is an aspiring growth city.
Micro-apartment house in Leipzig
At the beginning of March 2018 The Gounds Group purchased a property covering 1,317 m² in a central location of Leipzig for the construction of a micro-apartment building. This is located at Bornaische Straße 10-16 in the immediate vicinity of the Universities of Applied Sciences and Telecommunications.
Approximately 136 micro-apartments with a total living/usable area of 3,013 m² and an investment volume of approx. EUR 11 million will come into existence here. Entitlement to build already exists, which is why construction is expected to start as early as July 2018. This project is being implemented as a joint venture with a well-known Leipzig property developer. It is suitable for both sale and subsequent portfolio holding by The Grounds Development AG.
Leipzig, which is still Saxony’s most populous city ahead of Dresden, the state capital, has distinguished itself for nearly 20 years by a positive development in its number of inhabitants, with a steadily growing proportion of students. Approx. 15,000 students are currently studying at the two universities located close to the project alone. Leipzig’s economic development in the past few years has also been strong, and the mood regarding the economic situation is now better than ever before.