Project No.: 201922
The ensemble in Berlin’s most famous shopping area, in the immediate vicinity of the Federal Intelligence Service (BND), consists of two units, an office and a commercial building. They are similar in appearance and enhanced by a landscaped inner courtyard.
About the property
- Project category: Mixed object (Residential and commercial)
- Project type: Existing properties
- Building: 1998
- Purchase: 2020
- Investment amount: EUR 8.000.000
- (planned) revenue*: EUR 11.000.000
Note: *) This value is a forecast.
Berlin is Germany’s capital city and also the most populous city with 3.5 million inhabitants. It is an autonomous Federal state and has 12 districts. Surrounded by sparsely populated Brandenburg, it forms a metropolitan region together with the surrounding towns and municipalities. The growth of the city and its increasing popularity, including internationally, has led to a huge amount of investment and modernisation of the cityscape in the last few years, particularly in city-centre locations. As a result, Berlin has become an even more attractive location both for business and housing, which is also reflected in the prices on the market – a trend which will continue.
The Mitte district gives its name to the Berlin urban district of Mitte with three additional municipal districts (Wedding, Tiergarten, Moabit). Mitte includes old Berlin, which features the Brandenburg Gate, the reconstructed City Palace and the Museum Island, so it is appealing to tourists.
Mitte has a population of around 102,000 (2020), 30% of whom are foreign citizens and around 45% of whom are German citizens with a migrant background. This percentage is well above the Berlin average (14%). The international character of the location is not only reflected in the population structure but also in the companies established there: in addition to Berlin’s biggest employers (Deutsche Bahn and Charité), a large number of small, medium-sized and large companies are based here.
The property is located extremely centrally in an exclusive prime location at Oranienburger Tor, at the end of the northern part of Friedrichstraße, and thus in the Mitte district of Berlin. The government quarter, other Federal Ministries, Berlin’s Charité and Humboldt University campuses are located in the immediate vicinity. The property adjoins the neighbouring buildings in a closed terraced construction (perimeter block development), which is characteristic for Berlin city centre.
In addition to apartments in the upper price segment, the area is mainly characterised by offices and commercial operations. These are primarily retailers and enterprises from the creative industries and administration (real estate, business). Manual trades and industry are in the minority.
- Items for everyday and medium-term needs within walking distance
- Medical practitioner density very high
- Daycare centres and schools in the immediate vicinity
Car: Friedrichstraße connects Berlin-Kreuzberg with Mitte. It ends at the property location and merges into Chausseestraße, which continues to Wedding. Torstraße directly in front of the property is an important local thoroughfare as an east-west axis through the city. The nearest autobahn connection is the BAB111, which can be reached via Beusselstraße or Seestraße in about 15 minutes by car.
Public transport: Oranienburger Tor underground station is located directly at the property. Friedrichstraße suburban railway station and Berlin main station are less than 5 minutes away by tram or bus.
- Considerable noise and exhaust immissions due to through traffic