Borealis Hotel Group, Woolworth and a full-range food retailer move into the “Spandauer Ufer” quarter in Berlin
- FAY Projects and merz objektbau thereby reach a letting rate of around 50 per cent for the quarter as a whole
- Construction is due to start next year
Mannheim / Berlin, 14 October 2024 – FAY Projects has let three further areas in the planned new Spandauer Ufer quarter in Berlin.
Borealis Hotel Group (BHG) has signed a 20-year lease for a new hotel. Eighteen months ago BHG was approached by Hilton and asked to take part in this exciting project. The plan is for a Hilton Garden Inn with around 267 rooms (11,600 square metres). BHG will be the lessee and operator of this future four-star hotel, which is an excellent addition to BHG’s German portfolio.
The non-food discounter Woolworth is signing a ten-year lease for 1,685 square metres, and a full-range food retailer is taking 1,500 square metres for 15 years. “Letting further space long-term to well-known tenants keeps the Spandauer Ufer quarter on course and underlines the appeal of the scheme,” says Manuel Oltersdorf. “Including the apartments, pre-letting thus rises to around 50 per cent. Spandauer Ufer combines the best of two worlds — a unique waterside setting with access to nature, and direct links to the Berlin-Spandau ICE station, which puts all of Berlin’s urban hotspots within easy reach. Next we will turn to letting the offices, where we can offer flexible layouts alongside numerous complementary uses that bring the quarter to life.”
The concept for the quarter covers around 72,000 sqm of gross floor area and brings together a varied mix of socially relevant functions. Besides space for a thriving local economy, it includes in particular rented housing, a diverse range of restaurants and cafés, local amenities, medical practices and generous green and activity areas open to the public.
Sustainability and innovation are given equal weight in the quarter. Alongside electricity generated from renewable primary sources, the scheme provides for a heating and cooling concept that largely dispenses with fossil fuels — something that is clearly reflected in the latest ESG assessments by external experts. Assuming a supply of green electricity, the quarter achieves a “stranding” date after 1 January 2050, an outstanding result. The entire quarter was also planned in BIM (Building Information Modeling). The result is a smart digital twin of the quarter, available to everyone involved in its construction and operation.
“We are currently in discussions with general contractors about awarding the construction works,” says Ralph Esser, Managing Director of FAY Projects. “We are confident that we can begin construction next year, provided that economic conditions and the financing environment develop favourably by then.”
The new urban quarter is intended to create a connection between the riverside promenade and Spandau’s old town. “We are pleased to be able to heal an unsatisfactory piece of urban fabric that has stood for decades, and we are grateful for the confidence the borough has shown in us,” adds Tobias Herre, Managing Director of merz objektbau.