SSN Group invests in Berlin
Zug-based SSN Group is making acquisitions in the German capital Berlin. The Group acquired the luxury residential project "The Wilhelm" near the Brandenburg Gate and an office project in Charlottenburg.
In cooperation with a Swiss family office, SSN Group AG has acquired the shares in the project company Wilhelmstraße 56-59 in Berlin-Mitte from the Obholzer Group as part of a share deal.
165 residential units are to be built on the site near the Brandenburg Gate by the end of 2019. The contracting parties have agreed not to disclose the purchase price. The residential building will be located opposite the Adlon Hotel.
Office project in Charlottenburg
In addition, the SSN Group has acquired a site at Franklinstraße 26a in Charlottenburg from Kilian Immobiliengruppe. The property has a total area of approx. 3,600 sqm and is located in the immediate vicinity of the capital city branches of the car manufacturers Porsche, VW, Audi and Mercedes.
An office building with around 10,800 square meters of office rental space, distributed over six floors and a staggered floor, is to be built on the site. In addition, a single-story underground parking garage will be built. The site is currently occupied by a car dealership, which will be demolished as part of the new construction project. Construction is scheduled to start in the first quarter of 2018, with completion of the property targeted for the third quarter of 2019.
The property Franklinstraße 26a is centrally located in Berlin-Charlottenburg and is well connected to public transport and road traffic. The Ernst-Reuter-Platz subway stop is a ten-minute walk away and Berlin-Mitte and the City-Ost can be reached in a few minutes via Strasse des 17.
"The creation of new office space is urgently needed for the Berlin office market with its low supply of vacant rental space," says Holger Hagge, Chief Investment Officer and Member Executive Board SSN Group AG.
