21.03.2018
The Grounds Real Estate Development AG DE000A2GSVV5
DGAP-News: The Grounds Real Estate Development AG has begun focused portfolio development very quickly: start of construction for the land recently acquired in Leipzig is already planned for Q3 2018.
DGAP-News: The Grounds Real Estate Development AG / Key word(s): Real Estate
The Grounds Real Estate Development AG has begun focused portfolio
development very quickly: start of construction for the land recently
acquired in Leipzig is already planned for Q3 2018.
21.03.2018 / 09:02
The issuer is solely responsible for the content of this announcement.
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- The building permit application for the Frankfurt extended stay apartment
block in the central Gutleutviertel district will be submitted in April
- Further purchased acquisitions announced for second quarter 2018
Berlin, 21 March 2018. The Grounds Real Estate Development AG (ISIN
DE000A2GSVV5) has made very great progress in a short time with the concept
and planning for the land at 10-16 Bornaische Strasse, Leipzig, acquired
only a few days ago. The building permit has been granted. Start of
construction for the property with 136 micro-apartments is scheduled for the
third quarter of 2018. The first potential purchasers have already submitted
global expressions of interest at the same time.
Plans to develop sites in Frankfurt am Main in the centrally located
Gutleutviertel district and in Neu Isenburg (at Frankfurt Airport's Terminal
3 currently under construction) are taking concrete shape, and are now in
the last fine tuning stages. A building permit application to develop a
four-storey extended stay apartment block with 205 micro-apartments for
temporary housing in Gutleutstrasse will be filed in April 2018. A reputable
international estate agent has been commissioned to market the property.
A micro-apartment development with approx. 225 apartments for temporary
accommodation will be built in Neu Isenburg. Fine tuning work on the
building permit application with the relevant authorities is currently
ongoing. The Grounds plans to submit the building permit application in the
second quarter of 2018.
Construction notification is currently being prepared to realise a
residential complex with ten housing units and living space of around 1,082
m² in Oldenburg. All the preconditions needed for the start of construction
and erection of convenient owner-occupied apartments should be available
within the next two months. The property is already gaining a positive
market response.
Growth of the Grounds Group's property portfolio in the project development
area has been fast and strong since autumn last year. In the "Development"
area, with seven project developments in Frankfurt, Leipzig, Oldenburg and
Magdeburg, the Group has at its disposal a total site area of more than
74,800 m² with an approximate potential gross floor area of 87,000 m², on
which around 1,200 residential units and 15 commercial units will be built.
A housing portfolio with 120 apartments together with a portfolio growth in
Senftenberg and the logistics park in Hangelsberg (in the immediate
catchment area east of Berlin) have been acquired for the Group's own
portfolio. The total site area owned by the group now amounts to around
367,000 m² with a residential and usable area so far of approx. 61,000 m².
The Hangelsberg site, large parts of which are still undeveloped, has great
potential for residential and commercial project developments.
The total amount invested for The Grounds Group's portfolio amounts to EUR
111 million. Acquisition of further sites and/or properties is planned for
the second quarter of 2018, and various contract negotiations are currently
ongoing.
Contact:
The Grounds Real Estate Development AG
Hans Wittmann
Management Board
Leipziger Platz 3, 10117 Berlin
T. +49 (0) 30 2021 6866
F. +49 (0) 30 2021 6849
E-Mail: [email protected]
Web: www.thegroundsag.com
UBJ. GmbH
Ingo Janssen
Managing Director
Haus der Wirtschaft, Kapstadtring 10
22297 Hamburg
T. +49 (0) 40 6378 5410
F. +49 (0) 40 6378 5423
E-Mai: [email protected]
Web: www.ubj.de
Financial calendar
April Publication of prel. figures for business year 2017
May Publication of financial statements 2017
15 May Spring Conference 2018 Frankfurt a. M.
June Publication of annual report 2017
June Publication of annual report 2017
August Publication of prel. figures for first half of 2018
September Publication of half-year report 2017
November German equity forum 2018
Corporate information
Acquisition, project development and sustainable residential property
management
The Grounds Group focuses on buying and developing residential property and,
as a full-service provider for the business areas Investment (including
property and asset management), Development and Trading, they have made it
their goal to provide affordable living space for different life stages. The
emphasis is on residential property, particularly also special real estate
such as student and retirement living in German metropolitan regions and
attractive locations such as aspiring outskirts in Germany. As a portfolio
holder their medium-term aim is to establish a significant high quality real
estate portfolio at a magnitude of EUR 500 million through investments and
in-house development, allowing stable profits together with attractive
dividend payments to The Grounds shareholders. The Grounds seeks to position
themselves as one of the leading German real estate companies by creating
added value within the scope of housing development and subsequent
development of market capitalisation.
NOT FOR FULL OR PARTIAL DISTRIBUTION, PUBLICATION OR DISCLOSURE IN, WITHIN
OR FROM COUNTRIES IN WHICH SUCH DISTRIBUTION, PUBLICATION OR DISCLOSURE
WOULD CONSTITUTE VIOLATION OF THE RELEVANT LEGAL PROVISIONS OF THESE
COUNTRIES. IN PARTICULAR, NOT FOR DISCLOSURE, FOR PUBLICATION OR FOR
DISTRIBUTION IN THE UNITED STATES OF AMERICA, IN AUSTRALIA, IN CANADA OR IN
JAPAN. THIS NOTIFICATION IS NOT AN OFFER TO PURCHASE SECURITIES OR AN
INVITATION TO SUBMIT A PURCHASE OFFER. THE RELEVANT SECURITIES PROSPECTUS IS
PUBLISHED AT http://www.thegroundsag.com/de/ UNDER THE HEADING "INVESTOR
RELATIONS".
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21.03.2018 Dissemination of a Corporate News, transmitted by DGAP - a
service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Archive at www.dgap.de
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Language: English
Company: The Grounds Real Estate Development AG
Leipziger Platz 3
10117 Berlin
Germany
Phone: 030 2021 6866
Fax: 030 2021 6489
E-mail: [email protected]
Internet: www.thegroundsag.com
ISIN: DE000A2GSVV5
WKN: A2GSVV
Listed: Regulated Unofficial Market in Berlin, Dusseldorf
(Primärmarkt), Frankfurt, Munich
End of News DGAP News Service
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