We are very pleased to report that Hutchinson & Partners have been appointed on our first project in Berlin. After an initial feasibility carried out in the summer, almost a year to the day of us establishing our Berlin office, Trei Real Estate GmbH have now asked us to proceed with the design of a new residential building on the corner of a market square in the heart of Kreuzberg. The war-damaged plot has been occupied by a single storey commercial unit since the 1960s. Its redevelopment offers the opportunity to repair a key urban corner in a historic part of the city and provide 40-50 much needed new homes for Berlin as well as the re-provision of a shop below. Following an initial pre-application phase with the council, we are hoping to take this project through the planning process early next year.
Trei Real Estate is the real estate venture of the Tengelmann Group. In addition to a property portfolio of about € 1,2 billion, Trei has a development pipeline of around € 960 million. Approximately 98% of the portfolio is rented to non-group companies. Trei develops and manages tailor-made, sustainable real estate solutions in the residential and commercial sectors.