Berlin, October 2013: The real estate developer Townscape One, which is based in Germany and Switzerland, has sold the ‘Krokant’ plot of the ‘Schokostücke’ development, which it only purchased from Estavis AG in May 2013, to the Berlin-based housing society HOWOGE Wohnungsbaugesellschaft mbH. The parties have agreed not to disclose the purchase price for the plot covering around 7,860 square metres in the Alt-Hohenschönhausen area of Berlin. Townscape One is developing a total of 157 rental and freehold apartments in a living area of approximately 10,300 square metres in five blocks. The construction company Zechbau has been contracted to build the development and has already started construction work. The development is being financed by the bank HSH Nordbank.
Townscape One commits to the Berlin market
‘We are pleased to have been able to successfully sell on the final construction plot at the former confectionery factory in Alt-Hohenschönhausen in Berlin in such a short space of time. We were even able to complete the entire process, from the acquisition to the financing and right through to the sale of the development, within less than six months. We expect the actual construction work on the apartments to make them ready for occupation to take approximately 14 months’, states Henrik Sassenscheidt, managing director of Townscape One. ‘The area has undergone an unbelievable enhancement over the past few years. We are confident that this trend will continue on a long-term basis and are actively looking for further residential plots in both Alt-Hohenschönhausen and the entire Berlin market’, reports Sassenscheidt. This is the first project in Berlin for the real estate developer, which is already active in the Rhine-Main area and the state of North Rhine-Westphalia.
The last vacant plot ‘Krokant’ in the ‘Schokostücke’ development on the site of the old confectionery factory
In the overall development ‘Schokostücke’, five construction sections containing a total of approximately 270 residential units are being developed on the site of the former confectionery factory covering two hectares. The realisation of the first four construction sections is being carried out by other property developers, and the sales of these sections have nearly been completed. The development is characterised by its townhouses, lofts and one-storey apartments. The attractiveness of the development is enhanced by small gardens, green roofs, roof terraces and a 1,000 m2-large park. Future users can make the most of an excellent and well-established infrastructure. The site is located in close proximity to schools, nursery schools, doctor’s surgeries, gyms and a comprehensive range of shops offering everyday essentials.