YOUNIQ AG, the leading provider of high-quality student apartments in Germany, has acquired an undeveloped plot of land of around 9,000 m² in Potsdam along with planning permission.
A total of 388 new apartments with around 7,760 m² of rentable space are to be created in the Kiepenheuerallee directly next to the campus, entailing 26 million of investment volume.
The project is due to be completed and rented prospectively by 2013. The apartments, which comprise 20 m² on average, are fully furnished, and are to be rented on an all-inclusive basis, in other words, including all incidental costs such as internet and cable connection.
Along with its favorable location, the site also stands out due to its direct street tram link to the city center. YOUNIQ AG is increasing the number of apartments that it manages or is in the process of creating to a total of 2,841 units as a result of this new project in Potsdam.
Potsdam is one of Germany's most attractive cities for student living according to a survey conducted by Savills. More than 23,000 students are currently enrolled at the University of Potsdam and at the University of Applied Sciences Potsdam. The number of students grew by 28% over the last eight years.
Since the 'Studentenwerke' (semi-governmental providers of student services) currently meet only around 9.5% of demand for student accommodation, Rainer Nonnengässer, the CEO of YOUNIQ AG, believes there is attractive potential scope here: "Potsdam offers us ideal conditions to successfully implement our YOUNIQ concept. As a result of securing this acquisition, we are now already present at 10 locations in Germany.
"We are optimistic that we will further extend our leading market position with even more purchases over the coming weeks."
Source: YOUNIQ AG