CA Immo and Mainzer Stadtwerke AG have sold the 6,400 m² Rheinallee I site along the Rheinallee in Mainz, to a consortium of Heureka Development and SORAVIA. In addition to residential construction, c.6,500 m² out of 17,000 m² (GEA) is intended for a commercial use.
Construction should start in early 2019, with completion scheduled for 2021.
Olaf Heinrich and Jakob Vowinckel of Zollhafen Mainz GmbH & Co.KG commented on the deal: "After we were able to place the Rheinallee I on the market, all the sites are now sold - from the Kunsthalle to the Fire Station in the north.This paves the way for the further residential development in the heart of the Zollhafen district. We are also very pleased to have experienced partners in inner-city residential areas on our side.”
Jasmin Soravia, the director of Soravia Capital GmbH, adds: "The acquisition of the property in the Zollhafen Mainz marks a significant milestone in SORAVIA's expansion into Germany. The newly created Zollhafen urban district exactly matches our quality standards. It combines residential, work, café/restaurants, a hotel and shopping in a prime central location. We are pleased with our investment in this highly promising project and our collaboration with Heureka.”
Robert Waidhaas, the managing partner of Heureka Development, comments: "The development of a hotel, as well as upmarket condominium and rental apartments, in our €60m project, will complement the range of services in the new district on Rheinallee. We are convinced that this is an excellent completion of the overall concept for the site.”