KGAL Investment Management has begun letting flats in the residential development at Candidplatz in Munich-Untergiesing. The development comprises six existing buildings, including an extension, and a new build, totalling five blocks, one of which is a 13-storey residential tower. KGAL acquired the development following the planning phase and oversaw the construction phase. The 355 flats range from one to five rooms, some of which offer views of the Alps. The total lettable area is around 24,000 square metres.
“With the start of lettings, the residential development at Candidplatz has reached an important milestone,” says Karl Neumann-Henneberg, portfolio manager at KGAL. “The range of flat sizes appeals to a broad target group. At the same time, the development combines privately funded and subsidised housing with local amenities, childcare and a sustainable mobility concept in an attractive location.”
The new development comprises 186 flats. Of these, 117 are privately funded. Marketing has begun for 82 of these flats. A further 69 flats in the new development were built under the income-based housing scheme (EOF).
The development offers a modern mobility concept featuring 750 cycle parking spaces, a car-sharing scheme with electric vehicles, e-bike sharing and an on-site bicycle repair workshop. 87 underground parking spaces and transferable MVG tickets round off the facilities available to tenants. The property is situated right next to the Candidplatz underground station, with direct links to the city centre.
On 30 September, a ground-floor space was handed over to EDEKA. The supermarket chain has recently completed the fit-out. The development also includes a nursery. Final planning and consultations with the City of Munich are currently underway.
The residential development at Candidplatz forms part of KGAL Wohnen Core 3. This institutional property fund invests in ESG-compliant residential properties with sustainable building stock in Germany.
Further information about the neighbourhood can be found at www.dein-candid.de.
