HIH Invest has acquired the Schillerquartier housing estate in Monchengladbach. Its developer and seller is CQ-Haus GmbH, a subsidiary of the DBMC Group from the Netherlands with an extensive track record in housing construction. The neighbourhood development on Steinmetzstrasse consists of three development sites, with the first building nearly completed. It splits into 66 residential units, supplemented by a commercial unit of 2,315m² that will be occupied by a Lidl discount supermarket on a long-term lease. The remaining 94 residential units on a combined floor area of 5,876m², as well as the eight office and retail units with a combined floor area of 1,545m² will be located at development sites 2 and 3, which are slated for completion by the third quarter of 2023. One commercial unit of 530m² has already been let long-term to a day nursery operator. Construction works at development sites 2 and 3 will begin shortly since the planning consents have already been issued. Also part of the overall project will offer 179 parking spots, some of which include charging points for electric vehicles.
“The building complex is defined by aspirational architecture, paired with excellent specifications, and it was honoured with the ICONIC Award at the Expo Real 2021 trade fair. The plans designed by the Schrammen architectural firm from Monchengladbach picks up on features of Belle Époque buildings and translates them into modern architecture,” said Nadine Robra, Team Leader Transaction Management Germany at HIH Invest.
The acquisition of Schillerquartier is in line with the sustainable investment strategy and the ESG mission statement of the “Wohninvest Quartiere Deutschland” fund. The high-end new-build units will meet the 55 EE KfW Efficiency House standard, and have very easy access to the public mass transit system. The family-friendly quarter will have its own playground and an integrated day nursery. “Even after the pre-acquisition audit, we keep scrutinising the properties in terms of sustainability. During the entire time that these assets are part of our portfolio, we will compile ESG reports from time to time. Doing so will ensure that the quality remains the same, but it also plays a key role in ESG governance,” said fund manager Tom Kircher of HIH Invest.
Mark Tijhuis, Managing Director of CQ-Haus GmbH, commented: “We have maintained a presence in Monchengladbach since 2014, and are clearly focused on residential developments in North Rhine-Westphalia. We are very glad to have found a reliable partner in HIH Invest Real Estate, especially for our Schillerquartier development here in the city."
“Monchengladbach is developing well as a residential and commercial location. The fruitful cooperation between administration and business leads to increasing demand for housing. Rental prices are cheaper here than in Düsseldorf, which is only 26 kilometres away. Modern housing, barrier-free and centrally located, is in demand,” reported Klaus Niewöhner-Pape, Member of the Investment Committee Residential of HIH Invest.
