FAY Projects hands over hotel and co-living project in Leipzig to tenants and owner

Mannheim / Berlin / Leipzig, 4 November 2024 – FAY Projects has handed over its new development at Berliner Straße 22–30 in Leipzig to the tenants and to the new owner, the pension fund of the Hesse State Chamber of Physicians. The transfer of benefits and obligations took place at the end of October. The project has a total lettable area of 18,640 square metres, including the underground car park.

For the street-facing hotel, which comprises 7,500 square metres of lettable space, Fast Lane Hospitality GmbH signed a 25-year lease in November 2019 for a Radisson hotel with 224 rooms. The building passed to the tenant fully furnished and ready to operate, and opened in mid-October.

In the courtyard, 75 furnished apartments with 185 rooms were built across more than 4,200 square metres of living space. This part of the development is let for 25 years to the co-living provider Habyt. The underground car park, with 84 public spaces, is let to APCOA, Europe’s largest car park operator. The building was constructed by a joint venture of Ed. Züblin AG and WTC Wärmetechnik Chemnitz GmbH & Co. KG.

“Completion coincided with a pandemic and a war in Europe, with wide-ranging effects on interest rates and supply chains. That makes us all the more pleased to have brought this undertaking to a successful conclusion,” says Wolfgang Heid, Chairman and Spokesman of the Management Board of FAY Projects.

Ingo Lindner, Managing Director of FAY Projects, adds: “We would like to thank all the partners involved, and in particular the staff of Züblin and WTC, for their good cooperation, and we hope that the expectations attached to this property will be fulfilled for owner and tenants alike.”

“The great challenge was that the hotel wanted to go into full operation without a pre-opening phase. The entire interior therefore had to be made ready for use alongside construction, in time for the handover of the leased areas on 16 October. We are delighted that we were able to hand the building over to the tenant turnkey and on schedule,” says Cunar Meyer, Project Manager at FAY Projects.