News

Leverkusen/Mannheim, 03.11.2021 – The project developer Cube Real Estate has purchased the approximately 8,500 m² property of the former Felina-Werke in Mannheim from a group of private investors. The site along Lange Rötterstraße, Pozzi-, Holzbauer- and Melchiorstraße was the former production and administration site of the textile company Felina. Cube Real Estate plans to convert the site into an urban quarter with residential and commercial use within the next four to five years. The parties have agreed not to disclose the purchase price.

The existing buildings, which comprise around 25,000 m² of rental space, are currently used for commercial purposes. Tenants include the City of Mannheim with a youth welfare office and a theater academy, Felina with administrative units and an outlet store, the food retailer Rewe and the clothing retailer NKD. Cube Real Estate will work closely with the existing tenants and the City of Mannheim on the gradual conversion into a sustainable, urban quarter. Most of the existing building fabric will also be retained. Compact apartments, offices, studios and space for services, retail, gastronomy and medicine will be created in the old commercial and production halls. The aim is to revitalize the quarter with types of use that attract many different people and target groups. The history of the area is to be taken into account when naming the new quarter.

“It’s great to be able to develop an entire cityscape-defining quarter for our very first project in Mannheim. The purchase marks an important step for us and our further growth in the region and towards the south,” says Tilman Gartmeier, founder and CEO of Cube Real Estate. “In addition, this project as a development in existing buildings contributes to the sustainability goals of our Cube Vision by 2026.”

The property is located in the up-and-coming Neckarstadt-Ost district. The Rhine and Neckar rivers, with their large recreational areas, district parks, swimming pools and sports facilities, are within walking distance of the property, as is Mannheim city center. “The neighborhood development offers us the opportunity to make a contribution to the further development of the district,” explains Sven Seipp, Managing Director of Cube Real Estate Mitte GmbH. “We will treat the industrial charm of the site with respect and find a mix of uses that suits the location, revitalizes it in the long term and makes it attractive beyond the neighborhood. By converting the existing building, we can also achieve significant CO2 savings compared to the new building.”

Cube Real Estate was advised on the purchase by Loschelder Rechtsanwälte (legal due diligence) and ECOVIS KSO (tax advice). The international real estate service provider Jones Lang LaSalle SE brokered the transaction on behalf of the sellers.