STOCKHOLM, Mar 06, 2017 /PRNewswire/ --

Catella has been awarded a real estate prize in the Refurbishment category for its Living Circle project at the Real Estate Managers 2017 event in Germany. Catella's Living Circle project is one of the biggest conversions of office space into residential in Germany, and won in competition with projects by major developers.  

The imAward 2017 event, arranged by German magazine Immobilienmanager, took place on March 2 in Cologne, with 420 invited guests. The awards started in 2009 and have evolved to become the most significant in the German real estate business. The jury, consisting of 14 specialists, chose Catella's Living Circle project in the Refurbishment category with the motivation:

"Catella solved two challenges with the Living Circle project. The urban challenge: the old "Thyssen Trade Center" in Dusseldorf had been an empty office building since 2011 and was not usable for new tenants. The market challenge: the residential market in Dusseldorf has a high demand surplus for affordable housing. Dusseldorf needs more housing to regulate the local market. Instead of demolition, the award winners decided for a conversion of the existing office building and to keep the landmark character of the architecture. The inner courtyards offer green oases with a high-quality environment, including a kindergarten and supermarket. The central location also provides close connection in all directions. The exceptional rents represent another important fact: 20% of the apartments are price capped with a maximum rent of EUR 8.50/m2, and the rest have an average rent of only EUR 11.65/m2, which is also below market rents. The Living Circle is one of the biggest conversion projects from office to apartments ever realised in Germany. Moreover, it is the first development in Dusseldorf to apply the rent policy concept."

For more information, please contact:   

Press contact:

This information was brought to you by Cision

The following files are available for download:

Press release

Catella-Bauwert-imAward2017

Catella Living Circle 2

Catella Living Circle

 

Are you looking to buy property in Germany ? Berlin , Saxony-anhalt , Traben-trarbach , Bavaria , Frankfurt Am Main

Are you looking to rent property in Germany ? Heringsdorf (seebad) , Sylt/westerland , Ahlbeck (seebad) , Bansin (seebad) , Berlin

Author

  1. avatar
    Homesgofast com

    Homesgofast.com is an international real estate portal and news source for Google news. Publishing international real estate, finance, homes and travel-related news and blogs for a targeted audience since 2002. Each news item is circulated to thousands of potential readers each day and is also available to the millions of people who sign up for Google news alerts. Find homes offered for sale and to rent direct from owners and some of the best real estate agents from over 35 countries