The Cologne-based multi-family office for real estate assets DERECO and the KLINGSÖHR group from Berlin combined forces to acquire a waterside plot in Berlin-Neukölln.

In a spot right next to Sonnenallee light railway station and opposite the internationally renowned ESTREL hotel, the two companies intend to develop a project for offices and other commercial purposes covering approx. 35,000 sqm of floor space. Four buildings all with their own distinct layout and architecture are planned to form a campus hosting flexible office environments and light-industrial space e.g. to be used for research and development plus catering and cultural facilities.

Building permits have already been granted on the basis of submitted drafts.

This project marks the second joint commitment of the two partners in this up-and-coming area of Berlin. Development volume amounts to a total of approx. EUR 250m.

“This location has so many advantages that have won us over. Sonnenallee station with its connection to the circular line of Berlin’s light railway is only a stone’s throw away, the next bus stop is virtually on our doorstep, there’ll soon be a new junction for the A100 autobahn extension and the ‘Y-axis’ of a bike freeway is expected to run near our plots. Since BER airport is envisaged to become operational some time soon, we’re expecting demand to shift heavily towards the Berlin Districts situated south of the centre, or Mitte. On top of all this, Neukölln has become a hip part of town – it’s highly diverse and offers a wide range of gastronomic options too. For years now, the area has been a trendy location attracting people to live or just go out there,” says David Noll, DERECO’s CIO. “With this setup and modern, flexible plans we are sure we can launch a successful project contributing to the transformation of this micro-location, irrespective of the expected impact of COVID-19.”

Stefan Klingsöhr, Managing Partner of the Klingsöhr group, says: “As we are planning to make this office and retail project in Neukölln a reality, we are focussing on an area that used to receive only marginal attention due to its previous use. However, the existing infrastructure has what it takes to provide for a modern, attractive office and retail property in this location. The planned project development goes hand in hand with the rise of Neukölln which has become a vibrant urban district. Considering its purpose and design, it’ll fit perfectly with the trend. What’s more, our project will automatically provide a new impetus for developing nearby areas. Additionally, if you look at other construction projects in the vicinity and consider the neighbours who have already settled in, our project is well set to become a neighbourhood in its own right.”