According to the developer, which operates in Switzerland and Germany, the investment volume for the development with a living area of 10,300 square metres amounts to a total of 22 million euros. The HSH Nordbank bank is contributing 18.2 million euros as borrowed capital. Construction work is scheduled to begin in July 2013. The fifth and final section of the ‘Schokostücke’ real estate development with a total of 270 rental and freehold apartments will be constructed on the site of the ‘Alte Zuckerfabrik’ confectionery factory, which covers two hectares.

The section, which has been given the fitting name ‘Krokant’ (the German word for brittle), contains 91 rental and 66 freehold apartments and was designed by the Berlin-based architecture firm Elwardt & Lattermann. The construction work in Konrad-Wolf-Straße and Mittelstraße is scheduled to be completed in September 2014. According to the developer, the sales of the other townhouses, lofts and one-storey apartments surrounding a small 1,000 m²-large park have nearly been completed.

By concluding this transaction, Estavis has stepped away from its final construction plot and thus departed from the real estate development industry for good. The company is now focusing on trading in apartments. The ‘sweet’ development, the transaction for which is being processed by the Townscape subsidiary Kowo, marks Townscape’s entry into Berlin’s housing market.