The property developer Livory has acquired a site of approximately 2,080 m² in Berlin’s Lichtenberg district, comprising an existing single-storey commercial building. During the GDR era, the site was home to an Intershop; following reunification, LIDL operated retail premises there. Most recently, the property was used as a car repair workshop. Livory is now converting the former commercial premises into much-needed housing. Around 90 residential units are to be built on a gross floor area of approximately 5,500 m²; planning permission has already been secured via a preliminary planning decision.
The plot, situated to the east of the capital between Friedrichshain and Marzahn, covers a single parcel of land and is located on Eitelstraße in the so-called Weitlingkiez neighbourhood. The neighbourhood features a mix of refurbished Wilhelminian-style buildings, modern residential developments and a few new-build properties. Berlin-Lichtenberg is regarded as a green and family-friendly borough offering a high quality of life, whilst also being a traditional business hub with excellent infrastructure. The neighbourhood is characterised by quiet residential streets, schools, a sports stadium and numerous listed residential complexes.
The district has a regional railway station, Lichtenberg station, which is within walking distance and offers excellent links to local public transport. In addition to the U5 underground line (Hönow – Berlin Hauptbahnhof), there are several S-Bahn connections (the S7 and S75 to Wartenberg and Ahrensfelde, the S5 to Strausberg Nord and the S3 to Erkner), as well as a dense tram and bus network. This location ensures quick access to Berlin city centre and combines the quiet residential area with urban infrastructure and excellent transport links.
With this acquisition, Livory is systematically expanding its presence in Berlin-Lichtenberg: in addition to purchasing the plot on Eitelstraße, the company is currently developing a residential project comprising 124 rental flats on Lückstraße in partnership with YUNA.
“With this project, we are consistently pursuing our strategy: our focus is on developing sustainable housing in well-connected, established neighbourhoods that offer a high quality of life whilst also providing stable long-term prospects,” says Manuel Al Hamwi, Head of Development at Livory.
Livory was advised on the transaction by the law firm POELLATH. The parties have agreed not to disclose the purchase price.
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.
