Real estate developer Livory has acquired another property at Siegfriedstraße 191 in Berlin-Lichtenberg. The 5,000 sqm site is planned to comprise a total of 9,515 sqm of lettable space, of which 7,065 sqm will be allocated to residential use and 2,450 sqm to commercial space on the ground floor. The property was sold by Trei Real Estate GmbH. The purchase price has not been disclosed.
With the acquisition, Livory is further strengthening its presence in Berlin-Lichtenberg. In addition to the property on Siegfriedstraße, the company is currently developing the YUNA residential project with 124 rental apartments on Lückstraße, as well as 90 residential units on Eitelstraße. Livory is thus consolidating its activities in a district characterised by growing demand for housing, established neighbourhood structures and good public transport connections.
Architectural features of the planned new-build development include a ceramic façade and a rooftop garden above the commercial space, which will complement the communal outdoor areas. Around 80 percent of the apartments are planned as two- and three-bedroom units, complemented by one- and four-bedroom apartments. More than 70 percent of the apartments will be designed to be barrier-free. All apartments will feature either a balcony or a terrace.
The location on Siegfriedstraße offers excellent public transport connections. The Siegfriedstraße/Josef-Orlopp-Straße tram stop is located in the immediate vicinity and is served by tram lines 21 and 37 as well as bus lines 240 and 256. Lichtenberg S+U-Bahn station, providing connections to the S-Bahn, U-Bahn and regional rail services, is within walking distance. Further improvements to the tram infrastructure in the surrounding area are planned in the future.
Lichtenberg is one of Berlin’s fastest-growing districts. According to the Berlin Senate’s latest population forecast, the district’s population is expected to increase by around eight percent, or approximately 25,000 people, by 2040.
“Lichtenberg is one of Berlin’s most dynamic residential locations and will continue to grow in the coming years. The district meets our requirements for well-connected, established neighbourhoods with long-term demand for housing. We are therefore continuing to strategically expand our presence here,” says Manuel Al Hamwi, Head of Development at Livory.
Livory is responsible for the development of the site as Investment and Development Manager on behalf of an investment mandate from Henderson Park. POELLATH provided legal advice to Livory on the transaction. The seller was legally advised by the global law firm Dentons.
