The Centralis Immobilien Group has acquired the property at Paul-Heyse-Straße 18 in Munich. The property in a central city centre location near the main train station and Theresienwiese is currently being developed with a hotel in need of renovation. The surrounding area is characterised by a mature urban structure, excellent transport connections and high tourist and business demand. With this acquisition, Centralis has secured another existing inner-city property with considerable development potential in one of Germany’s most sought-after A-cities.
Comprehensive new development with 92 serviced apartments
Centralis will comprehensively modernize the existing building and supplement it with structural extensions. In addition to the renovation, an extension and an extension are planned. The aim is to develop a modern hospitality product with 92 high-quality serviced apartments on the upper floors. Gastronomy areas are planned on the ground floor, which are intended to contribute to the further revitalization of the district.
With this project, Centralis is consistently focusing on sustainable portfolio development in core urban locations and is pursuing its strategy of realising modern serviced apartment concepts in German A-cities.
Limehome as a long-term operator
The serviced apartments have already been rented: Limehome, one of the leading European operators in the field of digital hospitality concepts, has been acquired. The technology-supported, fully digitized operating concept is aimed at business and leisure travelers alike.
apoprojekt bound as a construction partner
Centralis has commissioned apoprojekt as general contractor for the structural implementation. The company has extensive expertise in the revitalization of sophisticated existing properties as well as in the realization of modern hospitality and apartment concepts.
Comments on the purchase
Dr. Fabian Vieregge, CEO of Centralis:
“Paul-Heyse-Straße 18 fits ideally into our investment profile. We develop existing inner-city properties in need of structural modernization into future-proof hospitality products. Munich is a strategically important location for us with sustainable demand in all relevant segments.”
Lukas von Lüdinghausen, Co-CEO von Centralis:
“With the early commitment of Limehome and apoprojekt, we are creating planning security and a strong operational basis at an early stage of the project. Especially in complex existing inner-city projects, close, cooperative cooperation between all parties involved is crucial for success.”
Matthias Maas, Vice President Expansion DACH & BeNeLux at Limehome:
“Munich is one of the most important hospitality markets in Europe. The central location near the main train station and the Theresienwiese offers ideal conditions for our digital hospitality concept. We have a trusting, long-standing cooperation with Centralis, which also forms the basis for successful implementation of this project.”
Sebastian Mall, Munich Branch Manager at apoprojekt:
“The revitalisation of existing inner-city buildings requires precise planning, technical expertise and efficient implementation. Together with Centralis, we are developing the property into a modern, sustainable hospitality location.”
