Trei Real Estate GmbH (Trei) has secured a building permit for its third mixed-use residential and retail building in Berlin. The company will raze the single-storey supermarket at Furstenberger Strasse 8—on the district boundary between Mitte and Prenzlauer Berg—and replace it with a new fill-in development. The complex to be developed will divide into a supermarket on the ground floor and six upper floors with rental apartments. Specifically, the complex will comprise 117 apartments of one to four bedrooms (total about 7.400m²) and an underground car park of 25 car parking spots. The supermarket on the ground floor will be leased back to the EDEKA grocery chain upon its completion. For the time being, this retailer still occupies the old structure. The total investment costs will add up to c. €45m.
Pepijn Morshuis, CEO of Trei Real Estate, commented: “The supermarket on Furstenberger Strasse 8 is predestined for an overbuild. It is the only low-rise building in an area dominated by closed perimeter blocks of four to seven upper floors. The location is highly attractive due to its proximity to the popular squares Arkonaplatz and Zionskirchplatz. We are convinced of the sustainability of the project and are planning to keep the finished building long-term in our portfolio. In Berlin, 330 of these single-storey buildings qualify for an overbuild. This translates into a potential of 20.000 to 30.000 residential units.”