Leverkusen, 23.08.2021 – Cube Real Estate has acquired a 25,000 m² plot of land in Cologne. The medium-sized real estate developer headquartered in Leverkusen is seeking to amend the development plan for the site on the corner of Bergisch-Gladbacher-Straße and Zehntstraße. To date, it has been used by the Radeberger Group and its subsidiary, Haus Kölscher Brautradition. A mixed-use urban quarter with a gross floor area of around 100,000 m² is to be developed by 2030. Cube Real Estate has agreed not to disclose the purchase price with the seller, the Radeberger Group. The total investment costs will amount to around 400 million euros.

At the end of the current decade, a modern urban quarter combining residential and commercial uses is to be built where production facilities are still predominantly located. The developer is focusing on various forms of housing such as multi-storey residential buildings, small-scale housing and senior living. In terms of commercial use, a mix of offices, local amenities and restaurants is planned. In addition, small businesses and urban production uses are also being examined. If possible, both should be incorporated into the neighborhood planning.

Tilman Gartmeier, founder and CEO of Cube Real Estate: “We are delighted to have acquired another such large and important plot of land in Cologne. We will design an inspired concept with a special architectural firm and work on this project together with the city, i.e. the administration and politicians, local residents and other stakeholders, and develop and build a new trend-setting quarter for Cologne. As with our other major projects, a cooperative and partnership-based implementation with all those involved is important to us.”

“The site is one of the largest development projects in Cologne,” says Jean-Marc Fey, Head of Acquisitions & Sales and Project Management at Cube Real Estate. “We have the opportunity here to realize an urban and ecologically trend-setting quarter with different types of use and short distances. Our company has its roots in Cologne. This makes it a very special task for us to give this traditional site a new future and enrich the city with sustainable living and working space.” In addition to the 40,000 m² project site on Longericher Strasse in Cologne Bilderstöckchen, this is now Cube Real Estate’s second major neighborhood development project in Cologne.

“We were and are aware of our responsibility for this historically grown area. We are therefore all the more pleased about the plans for its further development,” says Jens Caßens, Director of Business Development at the Radeberger Gruppe. “At the same time, we would like to thank the City of Cologne, which has closely supported us in examining various options and potential buyers, as well as providing long-term support until the final decision was made.”

In addition to a balanced mix of uses, Cube Real Estate wants to set the following quality standards for the quarter: Sustainability in construction and operation, particularly with regard to_{CO2 emissions}, a high level of urban planning and architectural quality as well as open and collaborative partnerships with politicians, the administration and the surrounding neighborhood. The company is currently working on specific measures that are compatible with the architectural design of the buildings. The history of the site is also to be incorporated into the new urban quarter. “We don’t have a finished concept yet, but we want our project to reflect the history of the brewery site,” explains Gartmeier. “In addition, we will surprise with an architectural firm that will be a new and great asset for Cologne.”

The site in Cologne’s Mülheim district is located on the right bank of the Rhine and is well connected to Cologne city center in terms of infrastructure. The Mülheim S-Bahn stop is just 700 meters away. There are numerous shops, restaurants, sports and educational facilities in the immediate vicinity. The Haus Kölscher Brautradition is currently still using the site as a brewery location. Its brands such as Dom Kölsch, Gilden Kölsch, Sion Kölsch and Peters Kölsch have been bottled in Feldkassel since October 2020 as part of a long-term partnership with Cölner Hofbräu and have been brewed there since August of this year

Cube Real Estate was advised on the purchase by Loschelder Rechtsanwälte (legal due diligence) and ECOVIS KSO (tax advice). Savills Immobilien Beratungs GmbH acted for the seller as part of an exclusive mandate.

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