Corporate news
Gateway Real Estate acquires the former Osram production site in Augsburg and plans to develop a new quarter
- Development of a mixed-use inner-city urban quarter
- Gross development volume of more than 800 million euros
- Land area of over 120,000 sqm right next to the river Lech
- Rising recreational value for the urban population in Augsburg
Frankfurt am Main, 2 December 2019 - Gateway Real Estate AG (WKN: A0JJTG / ISIN: DE000A0JJTG7), one of the leading developers in the German real estate market, has acquired the former Osram production site on Berliner Allee in Augsburg and is planning the development of a mixed-use urban quarter there in cooperation with Aventin Real Estate GmbH.
The property on Berliner Allee in an inner-city area of Augsburg is located directly next to the river Lech. It has been used by Osram for more than a century as a production site for illuminants and subsequent by the company Ledvance.
Within the next few years, a new city area is to emerge on the approx. 120,000 sqm site. The basis for this shall be provided by an urban development competition, which is to be announced together with the city of Augsburg in the first quarter of next year. As a result, it is intended to initiate a development plan process.
An important premise of the plans is to create an open space for the previously inaccessible area and to make it accessible to urban community. In addition, the planning also offers the chance to create access to the river Lech and its shores, thereby increasing the recreational value for the urban population in the surrounding area.
The project development volume for the realisation of the district development amounts to around EUR 800 million.
The seller of the property was Ledvance GmbH. Jones Lang LaSalle and GrothmannGeiser advised Ledvance GmbH during the sales process. The buyer was represented by the law firm Sauter & Wurm from Munich.
About Gateway Real Estate
Gateway Real Estate AG is a leading listed developer of commercial and residential real estate in Germany (WKN: A0JJTG / ISIN: DE000A0JJJTG7). The company has a broadly diversified portfolio, excellent market access and a well-filled project pipeline. In this way, the company achieves sustainable and profitable growth. The Group is currently developing real estate with an estimated gross development volume (GDV) of more than EUR 5 billion.
Further information: www.gateway-re.de
About Aventin Real Estate GmbH
Aventin Real Estate develops and implements sophisticated real estate projects for contemporary housing, working and living in Germany. In addition, Aventin Real Estate invests in existing properties with value creation potential.
Further information: www.aventin-re.de
Contact
Sven Annutsch
The Squaire No. 13, Am Flughafen
60549 Frankfurt am Main, Germany
T +49 (0) 69 78808800 0
F +49 (0) 69 78 80 88 00-99
E-mail: sven.annutsch@gateway-re.de
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