In Bahnhofstrasse, a premium location in Erfurt, REVITALIS REAL ESTATE AG and the multi-family office DERECO intend to combine forces to develop a project. For this purpose, the two JV partners have acquired a commercial property for offices and other commercial purposes and the adjacent free plot on Juri-Gagarin-Ring from a German company which formerly managed the building and the plot as existing stock.

A boutique hotel is planned to be built on the upper floors of the property and on the surrounding piece of land. Nearly 160 hotel rooms will cover some 5,800 sqm of gross floor space on the 2,695-sqm plot, which is situated within 150 metres’ distance from Erfurt’s central station right next to the Bahnhofstrasse pedestrian zone. The development will be built according to drafts by the architectural firm MPP MEDING PLAN + PROJEKT GmbH. On the ground floor of the building (which dates back to 1922), Deutsche Bank will operate its Erfurt branch as a tenant.

Dr. Carmen Hildebrandt, Managing Director of Erfurt Tourismus und Marketing GmbH, says: “The population of Erfurt has grown in recent years thanks to a higher influx of people from outside. By now, over 213,000 people live in this city. Tourism has become an important local industry. We’ve seen continued growth in the number of hotel bookings – over 900,000 overnight stays were recorded in Erfurt in 2017, twice as many as, say, twenty years ago. The new boutique hotel on Bahnhofstrasse is a perfect match to fill our city’s accommodation gap.”

The project is scheduled for completion by summer 2020. The building permit is expected to be applied for in Q3, 2018. Project volume amounts to approx. €25m.

Drees & Sommer, Dusseldorf, and Taylor Wessing, Berlin, provided consultancy services.