The property developer Livory has acquired a further plot of land at 191 Siegfriedstraße in Berlin-Lichtenberg. A total of 9,515 m² of lettable space is to be developed on the 5,000 m² site. Of this, 7,065 m² is expected to be residential and 2,450 m² commercial space on the ground floor. The seller of the property is Trei Real Estate GmbH. The parties have agreed not to disclose the purchase price.
With this acquisition, Livory is systematically expanding its presence in Berlin-Lichtenberg: in addition to the property on Siegfriedstraße, the company is developing the YUNA residential project, comprising 124 rental flats on Lückstraße and 90 units on Eitelstraße. Livory is thus concentrating its projects in a district characterised by growing demand for housing, well-established neighbourhood structures and good links to local public transport.
The architectural features of the planned new building include a ceramic façade and a roof garden above the commercial premises, which will complement the communal outdoor areas. Around 80 per cent of the flats are designed as two- to three-room flats, supplemented by one- and four-room flats. More than 70 per cent of the flats are designed to be accessible. All flats will have a balcony or terrace.
The Siegfriedstraße site has good public transport links: The Siegfriedstraße/Josef-Orlopp-Straße stop is in the immediate vicinity, served by tram lines 21 and 37 and bus routes 240 and 256. The Lichtenberg S-Bahn and Underground station, with connections to the S-Bahn, Underground and regional services, is within walking distance. Further improvements to the tram infrastructure in the surrounding area are planned for the future.
Lichtenberg is one of Berlin’s fastest-growing boroughs. According to the latest population forecast by the Berlin Senate, the population is set to rise by around eight per cent – or approximately 25,000 people – by 2040.
“Lichtenberg is one of Berlin’s most dynamic residential areas and is set to grow further in the coming years. The borough meets our requirements exactly for well-connected, established neighbourhoods with a long-term demand for housing. That is why we are deliberately expanding our presence here,” says Manuel Al Hamwi, Head of Development at Livory.
Livory is responsible for the development of the site in its capacity as investment and development manager on behalf of an investor mandate from Henderson Park. The law firm POELLATH provided legal advice on the transaction. Legal advice to the seller was provided by the global commercial law firm Dentons.
