The Grounds Real Estate Development AG signed the contract to acquire a residential property in Berlin-Lichtenberg yesterday. An apartment block features 22 apartments and also offers an opportunity to create further residential units.
Four attic apartments will be created in the roof storey of the existing building through appropriate extension measures. Another residential building with 23 residential units and a rentable area of approx. 1,620m² are also being constructed in the courtyard area. Building work has already started.
The property is located in a quiet side street with very good transport connections to the centre of Berlin. S-bahn and U-bahn trains, and Berlin-Lichtenberg rail station, are within a few minutes' walking distance, and the U-bahn journey time to Alexanderplatz is only 15 minutes. Featuring Wilhelminian-style buildings, Weitlingkiez is a residential area that has gained great popularity in recent years, and offers a wide range of restaurants and cafés.
Jacopo Mingazzini, a member of The Grounds’ Management Board, said: "The residential plot convinced us mainly due to its attractive location, existing densification potential and building rights that have already been created. We are sure that the newly-built penthouses and apartments will attract keen interest from owner-occupiers and capital investors alike."
