THE GROUNDS REAL ESTATE DEVELOPMENT AG
DGAP-News: The Grounds Real Estate Development AG / Key word(s): Real Estate - The building permit application for the Frankfurt extended stay apartment block in the central Gutleutviertel district will be submitted in April - Further purchased acquisitions announced for second quarter 2018 Berlin, 21 March 2018. The Grounds Real Estate Development AG (ISIN DE000A2GSVV5) has made very great progress in a short time with the concept and planning for the land at 10-16 Bornaische Strasse, Leipzig, acquired only a few days ago. The building permit has been granted. Start of construction for the property with 136 micro-apartments is scheduled for the third quarter of 2018. The first potential purchasers have already submitted global expressions of interest at the same time. Plans to develop sites in Frankfurt am Main in the centrally located Gutleutviertel district and in Neu Isenburg (at Frankfurt Airport's Terminal 3 currently under construction) are taking concrete shape, and are now in the last fine tuning stages. A building permit application to develop a four-storey extended stay apartment block with 205 micro-apartments for temporary housing in Gutleutstrasse will be filed in April 2018. A reputable international estate agent has been commissioned to market the property. A micro-apartment development with approx. 225 apartments for temporary accommodation will be built in Neu Isenburg. Fine tuning work on the building permit application with the relevant authorities is currently ongoing. The Grounds plans to submit the building permit application in the second quarter of 2018. Construction notification is currently being prepared to realise a residential complex with ten housing units and living space of around 1,082 m² in Oldenburg. All the preconditions needed for the start of construction and erection of convenient owner-occupied apartments should be available within the next two months. The property is already gaining a positive market response. Growth of the Grounds Group's property portfolio in the project development area has been fast and strong since autumn last year. In the "Development" area, with seven project developments in Frankfurt, Leipzig, Oldenburg and Magdeburg, the Group has at its disposal a total site area of more than 74,800 m² with an approximate potential gross floor area of 87,000 m², on which around 1,200 residential units and 15 commercial units will be built. A housing portfolio with 120 apartments together with a portfolio growth in Senftenberg and the logistics park in Hangelsberg (in the immediate catchment area east of Berlin) have been acquired for the Group's own portfolio. The total site area owned by the group now amounts to around 367,000 m² with a residential and usable area so far of approx. 61,000 m². The Hangelsberg site, large parts of which are still undeveloped, has great potential for residential and commercial project developments. The total amount invested for The Grounds Group's portfolio amounts to EUR 111 million. Acquisition of further sites and/or properties is planned for the second quarter of 2018, and various contract negotiations are currently ongoing.
UBJ. GmbH Corporate information Acquisition, project development and sustainable residential property management The Grounds Group focuses on buying and developing residential property and, as a full-service provider for the business areas Investment (including property and asset management), Development and Trading, they have made it their goal to provide affordable living space for different life stages. The emphasis is on residential property, particularly also special real estate such as student and retirement living in German metropolitan regions and attractive locations such as aspiring outskirts in Germany. As a portfolio holder their medium-term aim is to establish a significant high quality real estate portfolio at a magnitude of EUR 500 million through investments and in-house development, allowing stable profits together with attractive dividend payments to The Grounds shareholders. The Grounds seeks to position themselves as one of the leading German real estate companies by creating added value within the scope of housing development and subsequent development of market capitalisation.
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21.03.2018 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. |
| Language: | English |
| Company: | The Grounds Real Estate Development AG |
| Leipziger Platz 3 | |
| 10117 Berlin | |
| Germany | |
| Phone: | 030 2021 6866 |
| Fax: | 030 2021 6489 |
| E-mail: | info@thegroundsag.com |
| Internet: | www.thegroundsag.com |
| ISIN: | DE000A2GSVV5 |
| WKN: | A2GSVV |
| Listed: | Regulated Unofficial Market in Berlin, Dusseldorf (Primärmarkt), Frankfurt, Munich |
| End of News | DGAP News Service |
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