The RQI Monument Boutique has acquired a property built in 1900 on Friedrich-Ebert-Platz.
Most recently, the 4,700 square metre usable building, which is a listed building, was still used by the city of Heidelberg as an administration building. As part of the “monument-to-core” strategy developed by RQI Denkmalboutique, the existing areas will be largely converted into living space and renovated in accordance with ESG standards, while the charm of the Wilhelminian style building will be significantly retained. 53 apartments are being built on five floors, which comprise a total of around 3,500 square meters of modern living space in a prime location. The renovation work is scheduled to start in summer 2026 and be completed in spring 2028.
Professor Dr. Nico B. Rottke, Managing Director of RQI Denkmalboutique, explains: “This trophy property is a historic cultural monument that is characteristic of Heidelberg’s cityscape. But as with many houses of this age, there is an urgent need for action in terms of renovation and modernization. This makes it a perfect fit for our ‘monument-to-core’ strategy, which is precisely aimed at developing and implementing appropriate measures in close cooperation with the responsible authorities.”
“This not only creates new apartments, but also preserves historical values and creates new ones through the conversion. By converting offices into living space, we are making an important contribution to the creation of housing in one of the most sought-after cities in Germany and are putting the property to sustainable use with a view to Heidelberg’s future population growth,” emphasizes Sebastian Khan, Managing Director of RQI Denkmalboutique.
The legal advice to the buyer side in the context of the transaction was provided by Rittershaus Rechtsanwälte. BNP Paribas Real Estate acted as an intermediary.
The “monument-to-core” strategy
The aim of RQI Denkmalboutique is to renovate residential properties, primarily listed old buildings and individual cultural monuments with a high renovation backlog, through individual solutions in close cooperation with the municipal representatives by means of a specially developed “monument-to-core” strategy. The total investment costs per project are between 5 and 50 million euros. Their implementation follows the overarching approach of managing the acquired value-add properties at core level through targeted measures, taking into account an ESG approach.
In addition, this strategy integrates the tax advantages of the monument depreciation and subsidies from the federal, state and local governments into the respective projects. The focus is on properties in cities with more than 50,000 inhabitants in southwestern Germany and positive demographic and economic development.
