As of July 1, the property located at Württembergische Strasse 40-49 in downtown Berlin has been transferred to BAUWERT Investment Group. Construction of the 85 million project is scheduled to start in early 2011. The purchase price for the plot near Olivaer Platz was paid entirely from equity capital and wired to the Liegenschaftsfonds Berlin property fund in time for the contractual June 30 deadline.
In early 2011, Bauwert will launch the construction of the Württembergische Strasse residential estate, situated in the very heart of Berlin's western town center and in direct proximity to Kurfürstendamm. The plot, which extends over nearly 14,000 m², will be home to 15 townhouses of distinct architectural character within a park-like setting.
60% of the estate's grounds will be landscaped with greenery and gardens, parts of which will actually be accessible to the public. "This project and our planning effort reconnect to Berlin's lost garden architecture and will restore a historical aspect to the city," elaborated Michael Staudinger, Partner of Bauwert.
The 210 condominiums and rental apartments planned add up to a total residential floor area of 24,000 m². The investment volume approximates 85 million.
Source: Business Network Marketing