Winters & Hirsch brokers sale of 14,000 sqm building plot in Berlin to CG Gruppe

Winters & Hirsch has brokered the sale of one of the few remaining building plots in Berlin’s trendy Samariterviertel quarter (district of Friedrichshain-Kreuzberg) to CG Deutsche Wohnen GbR, a company of the Christoph Gröner Gruppe based in Leipzig and Berlin.

Seller of the property at Rigaer Str. 71-73a, a former brewery site, is the community of heirs of Beiser based in Israel and the UK. The property had been restituted to the heirs under the German Property Settlement Act [Vermögensgesetz] in 1998.

The approx. 5,150 sqm plot near Bänschstraße, Samariterplatz and Frankfurter Allee is currently improved with a number of former brewery buildings with up to four storeys. CG Gruppe plans to demolish parts of the existing structures and build a high-quality residential complex with commercial space. The blend of old-world industrial charm and modern architecture is going to be a vital feature of this project. Marketed under the name of Sama-Riga, the new complex is to comprise approx. 14,000 sqm.

For Philipp C. Tabert, managing director of Winters & Hirsch, this latest deal is further proof of the ongoing positive development of the Samariterviertel. Tabert notes that while most of the quarter’s old building stock had been refurbished over the last 15 years, the area was now being upgraded further by high-quality properties. He adds that „the Samariterviertel is currently seeing the most dynamic building activity of all quarters in the German capital. This reflects the tremendous attractiveness of Friedrichshain, where demand can be expected to remain high in the future.”

Winters & Hirsch had been instructed by the community of heirs to market the plot, and also advised the buyer on the transaction.

The seller and the executor of the estate were legally represented by the Berlin law firm of von Trott zu Solz Lammek. The parties have agreed not to disclose the purchase price.