The Grounds Real Estate Development AG / DE000A2GSVV5
24.04.2024 - 08:45:08The Grounds announces the sale of all residential units in its “Maggie” project in Berlin-Lichtenberg
| The Grounds Real Estate Development AG / Key word(s): Real Estate 24.04.2024 / 08:45 CET/CEST The issuer is solely responsible for the content of this announcement. 27 new residential units sold New building in the courtyard area and loft conversion in the portfolio Ongoing residential unit construction projects in Magdeburg also on schedule Berlin, 24 April 2024 –The Grounds Real Estate Development AG (The Grounds / ISIN: DE000A2GSVV5) has sold all the residential units in its re-densification project on Margaretenstrasse in Berlin-Lichtenberg. A total of 27 new owner-occupied apartments will be created on the plot in Weitlingkiez, which The Grounds acquired in summer 2022. Construction work is scheduled for completion in summer 2024. 23 residential units will be created in a newly-constructed building in the courtyard area of the plot; a further four units will be created by an attic conversion in the existing portfolio building. Thanks to its location in a quiet side street, the property offers a high quality of living. It is part of an urban neighbourhood characterised by numerous Wilhelminian-style buildings, which has become increasingly popular in recent years and is very well connected to the public transport network. Jacopo Mingazzini, Management Board of The Grounds, says: “We are delighted that our offer has met with keen interest from buyers, even though the market environment during the marketing period was by no means easy due to occasional great uncertainty and rising interest rates. The complete sale of all residential units within less than 18 months and simultaneous successful completion of our two residential construction projects in Magdeburg show that residential construction also works in a rather tough environment if the location, quality and layout correspond to the demand.” The “Property Garden” new-build project in Magdeburg was completed and handed over before Easter. The residential units had already been fully sold before construction began. The “LennéQuartier” project, with around 180 residential units, had already been handed over and fully let last year. Here again, all residential units had been sold before construction began. Company contact: The Grounds Real Estate Development AG Jacopo Mingazzini, Management Board Charlottenstrasse 79 - 80, 10117 Berlin, Germany Tel.: +49 (0) 30 2021 6866 Fax: +49 (0) 30 2021 6849 E-mail: info@tgd.ag Web: www.thegroundsag.com Investor Relations: UBJ. GmbH Ingo Janssen, Managing Director Haus der Wirtschaft, Kapstadtring 10 22297 Hamburg, Germany Tel.: +49 (0) 40 6378 5410 E-mail: ir@ubj.de Web: www.ubj.de Press contact: RUECKERCONSULT GmbH Peter Dietze-Felberg Wallstrasse 16 10179 Berlin, Germany Tel.: +49 (0) 30 284 49 87 62 E-mail: dietze@rueckerconsult.de Web: www.rueckerconsult.de About The Grounds The Grounds Group implements residential projects in German metropolitan regions. The Grounds Group also holds a steadily-growing residential portfolio in its fixed assets. The Grounds Real Estate Development AG is listed in the upper free market segment of Düsseldorf Stock Exchange’s primary market (ISIN: DE000A2GSVV5), and has its headquarters in Berlin and an office in Stuttgart. 24.04.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.eqs-news.com |
| Language: | English |
| Company: | The Grounds Real Estate Development AG |
| Charlottenstraße 79-80 | |
| 10117 Berlin | |
| Germany | |
| Phone: | 030 2021 6866 |
| Fax: | 030 2021 6489 |
| E-mail: | info@tgd.ag |
| Internet: | www.thegroundsag.com |
| ISIN: | DE000A2GSVV5, DE000A3H3FH2, |
| WKN: | A2GSVV, A3H3FH, |
| Listed: | Regulated Unofficial Market in Berlin, Dusseldorf (Primärmarkt), Frankfurt, Munich, Stuttgart, Tradegate Exchange |
| EQS News ID: | 1887653 |
| End of News | EQS News Service |
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