Trei Real Estate is Granted Building Permit for its Third Mixed Use Building in Berlin
Pepijn Morshuis, CEO of Trei Real Estate, commented: “The supermarket on Fürstenberger Strasse 8 is predestined for an overbuild. It is the only low-rise building in an area dominated by closed perimeter blocks of four to seven upper floors. The location is highly attractive due to its proximity to the popular squares Arkonaplatz and Zionskirchplatz. We are convinced of the sustainability of the project and are planning to keep the finished building long-term in our portfolio.” Overbuilding single-story buildings can seriously contribute to the creation of urgently needed residential accommodation in Berlin. “In Berlin, 330 of these single-storey buildings qualify for an overbuild. This translates into a potential of 20.000 to 30.000 residential units,” Morshuis went on to elaborate.
The EDEKA supermarket is expected to close in the spring of 2020, with the demolition and subsequent start of construction work to begin directly after its closing. The completion is scheduled for spring 2022. In addition to the project at Fürstenberger Strasse 8, Trei is about to develop another three mixed residential/retail buildings in Berlin. The projects at Pappelallee 45 - 53 and on the corner of Winsstrasse and Marienburger Strasse, respectively, are already under construction. At either site, single-storey retail structures were razed and replaced with multi-storey developments featuring new commercial premises and residential units. For yet another project, this one on Köpenicker Strasse, the municipal development planning process is under way. All things considered, the company is investing c. 250 million euros in the development of around 750 rental flats and 8.000 square metres of retail units in Berlin.