FOX Living secures development site for around 300 student apartments (PBSA) in Osnabrück’s Lok district
FOX Living, a subsidiary of FOX Real Estate, is pushing ahead with its commitment to student housing and has acquired a plot of land in Osnabrück’s “Lok-Viertel” urban development district. The plan is to realise around 300 furnished apartments, which are aimed in particular at students, trainees and young professionals. The seller is Lok-Viertel-OS GmbH, a subsidiary of the Aloys & Brigitte Coppenrath Foundation.
The project is being built in the immediate vicinity of Osnabrück’s main railway station on an area of around 22 hectares, which is being transformed into one of the most important urban development areas in north-west Germany. By 2034, around 330,000 square metres of gross floor area are to be created here with a versatile use of residential, commercial, local amenities, public facilities, a central park and contemporary mobility. FOX Living’s property is located directly next to the multi-award-winning listed Ringlokschuppen, which has already been revitalised and is considered the district’s identity-creating prelude (“Coppenrath Innovation Centre”).
The quarter is part of the core city of Osnabrück and is characterized by short distances to the university, the city center and excellent connections to local, regional and long-distance public transport. The projected, direct entrance to the Osnabrück tower station complements the central factors for the future residents.
FOX Living is planning high-quality apartments with a combined living and sleeping area, their own kitchen and bathroom. The offer is supplemented by communal areas, including on the ground floor and on roof terraces, which promote exchange and coexistence.
“With our project in the Lok district, we are responding to the clearly noticeable excess demand in the student housing segment in Osnabrück,” says Mathias Grüning, Managing Director of FOX Living. “International students and young professionals in particular are currently finding it difficult to find suitable housing. Our concept creates a contemporary offer here in an urban, well-connected location.”
The need is considerable: The approximately 27,000 students at the University of Osnabrück and Osnabrück University of Applied Sciences are currently only about 2,000 dormitory places at the Studierendenwerk. The supply rate is thus well below ten percent. At the same time, the market is strongly influenced by classic shared apartment offers, while the demand for individual apartment solutions remains high.
FOX Living was legally advised on the transaction by the law firm Walch, Rittberg and Nagel and Lok-Viertel-OS GmbH by Pinsent Masons (Munich).
