News Detail

TLG IMMOBILIEN is planning #WRIEZENER KARREE in Berlin-Friedrichshain with around 37,000 sqm of gross floor space

DGAP-News: TLG IMMOBILIEN AG / Key word(s): Market launch/Real Estate

18.07.2019 / 07:00
The issuer is solely responsible for the content of this announcement.


TLG IMMOBILIEN is planning #WRIEZENER KARREE in Berlin-Friedrichshain with around 37,000 sqm of gross floor space

- Planning has started for the trendy city district with approx. 37,000 sqm of gross floor space

- Construction is expected to start in 2020

- Trendy, well-connected location between Ostbahnhof station and Berghain

- Diverse usage concept as a cultural and event location up to the start of the project


Berlin, 18 July 2019 - Having now received a preliminary building permit, TLG IMMOBILIEN AG (DE000A12B8Z4) will now move on to the next stages of development of the #WRIEZENER KARREE (#WRZ, www.wriezener-karree.berlin) in the trendy Friedrichshain-Kreuzberg district of Berlin (location: Wriezener Karree 15, 10243 Berlin). Over the next few months, TLG IMMOBILIEN intends to consolidate its project pipeline and prepare whatever is required to apply for a building permit. In the future development project with around 37,000 sqm of gross floor space, TLG IMMOBILIEN will focus on a contemporary architecture that fits in well with the location as well as a usage concept that will meet the requirements of a modern office and living environment. The prestigious GRAFT from Berlin has been named the general contractor for the project.

'The urban development concept will create an urban city district directly adjacent to the Ostbahnhof station that will link the popular commercial and residential areas of Berlin-Mitte and Friedrichshain. Besides visitors to Berghain, the most internationally famous club in the city, innovative users such as technology companies can attain the new #WRZ for themselves and revitalise it even further', explains Jürgen Overath, COO of TLG IMMOBILIEN.

PAST MEETS PRESENT
#WRZ is a site with an eventful history. The former residential area was embedded into the network of the railway station and namesake Wriezener Bahnhof which was finally demolished in 2005. Before the reunification of Germany, it began to see commercial use and has also been used as a furniture market in recent years. Today, the #WRZ is situated in an up-and-coming, lively area in perfect proximity and with outstanding connections to event locations that are particularly popular with young people as well as residential and commercial areas of the city. In addition to WeWork, numerous well-known companies including Mercedes-Benz, BASF, Zalando, Universal and Coca-Cola have established themselves in the exceedingly popular and now virtually fully occupied sub-market for office space in Friedrichshain-Kreuzberg. With the Ostbahnhof railway station and diverse bus lines, the #WRZ has outstanding connections to local public transport as well as to Tegel and Schönefeld airports.

CULTURAL AND EVENT LOCATION UNTIL DEMOLITION
The roughly 14,200 sqm plot of land features a hall with a usable area of around 6,800 sqm, enough space for a wide range of temporary usage concepts. Bechstein Network will turn the #WRZ into a jewel of Berlin's art and culture scene over the next few months until construction starts. Numerous exhibitions, galleries, installations and events have already been planned.

The development of the #WRZ is part of the strategy of TLG IMMOBILIEN which was adjusted in early 2019 and now focuses primarily on generating value within the portfolio of the company through strategic investments and development activities. Besides the #WRZ, TLG IMMOBILIEN is currently preparing other development projects such as on Alexanderplatz in Berlin and 'Annenhöfe' and 'NEO' - both projects in central Dresden.

CONTACT

Christoph Wilhelm
Corporate Communications

Phone: +49 30 2470 6355
E-mail: christoph.wilhelm@tlg.de
Lisa Geppert
Investor Relations

Phone: +49 30 2470 6092
E-mail: lisa.geppert@tlg.de
 

ABOUT TLG IMMOBILIEN AG

For over 25 years, the listed company TLG IMMOBILIEN AG has owned and rented out commercial properties in selected promising locations in Germany. The company continuously develops its portfolio and actively generates value through strategic investments and selected property acquisitions. As at 31 March 2019, its portfolio contains properties worth in excess of EUR 4.1 bn. As at the same reporting date, the adjusted EPRA Net Asset Value per share amounted to EUR 26.67. The portfolio comprises office properties in cities including Berlin, Dresden, Frankfurt/Main, Leipzig and Rostock. It also contains a regionally diversified portfolio of retail properties, primarily in the neighbourhood shopping segment, in promising micro-locations as well as seven hotels in top central locations. The properties of TLG IMMOBILIEN AG stand out not only due to their excellent locations but also because of their long-term rental or lease agreements. Its highly qualified employees guarantee extensive local market expertise at its individual locations.

This publication contains forward-looking statements based on current views and assumptions of TLG IMMOBILIEN AG's management and made to the best of knowledge. Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that could cause TLG IMMOBILIEN AG's revenues, profitability or the degree to which it performs or achieves its targets, to materially deviate from what is explicitly or implicitly stated or described in this publication. Therefore, persons who obtain possession of this publication should not rely on such forward-looking statements. TLG IMMOBILIEN AG accepts no guarantee or responsibility regarding such forward-looking statements and will not adjust them to future results or developments.



18.07.2019 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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