New district development will cover a gross floor area of 15,500m²
More than 350 furnished micro-apartments are planned
EVAN purchases Prenzlauer Promenade 5-8 in BerlinNew district development will cover a gross floor area of 15,500m²More than 350 furnished micro-apartments are planned Valletta, 12 September 2017: EVANGroup plc („EVAN“) (ISIN DE000A19L426 / WKN A19L42) has purchased the address Prenzlauer Promenade 5 to 8 in Berlin. The property will be housing a new development in the city district comprising small-scale residential and commercial units with a total volume of around EUR 70 million. Right next to the famous „Brotfabrik“ cultural centre in Berlin, at the intersection of the three old city districts of Pankow, Prenzlauer Berg and Weißensee and close to the well-known and well-frequented streets of Prenzlauer Berg, around 15,500 m² of gross floor space are currently being built. On the ground floor, the planning concept envisages a commercial use with general stores, convenience stores and cafés. Around 1,900 m² of the rental space is earmarked for this purpose. The upper floors will contain around 350 furnished apartments covering an area of approx. 8,000 m². This range of flats will comprise different layouts aimed at providing attractive rental opportunities to young professionals or students. In addition to the building engineering services, the ground floor will also house around 100 car parking spaces. The facade design will be inspired by the historical buildings in the vicinity constructed in the Wilhelmine period style erected at the turn of the 20th century. The Prenzlauer Promenade property comes from the EVAN acquisition pipeline and is part of the livinit concept with which new housing forms like micro-apartments are to be developed and managed. The plan is for the company to administrate the property itself. „We are glad that we can realise another innovative project in a prime location – a project that takes particular account of the needs of young tenants. They will be able to enjoy modern living spaces in a lively and urban environment that covers all aspects of everyday life. In a Berlin housing market that is particularly tight and tense for young people, that“s the right place at the right time,“ says Dr. Michael Nave, Director and CEO of EVAN. EVANGroup plc is an institutional owner and operator of commercial and residential real estate in Germany. The management of EVAN has a successful track record reaching back over 30 years in the acquisition, project development, management and sale of real estate properties in Germany.
Important Information / Disclaimer: This publication shall not constitute an offer to sell or a solicitation of an offer to buy or subscribe of any securities of EVANGroup Plc in any jurisdiction. Potential users of this information are requested to inform themselves about and to observe any such restrictions. This publication and the information contained therein are not directed at or to be accessed by persons who are residents of the United States, who are physically present in the United States, who are otherwise „U.S. persons“ as defined in Section 902 of Regulation S under the United States Securities Act of 1933, as amended (the „Securities Act“) or who are located in Canada, Australia or Japan or any jurisdictions in which the distribution of this publication or release of such information would be unlawful. Securities of EVANGroup plc cannot be offered or sold in the United States without registration under the Securities Act or pursuant to an exemption from such registration. EVANGroup plc has not registered, and does not intend to register, any of its securities under the Securities Act or to conduct a public offering of securities in the United States. This publication shall not be regarded as an investment advice or recommendation within the meaning of German Securities Prospectus Act or Directive 2003/71 /EC of the European Parliament and may not be used for an offering requiring such prospectus. EVAN Group Plc will not be responsible for the content of this document in relation to any offering which requires such a prospectus. This publication contains „forward-looking statements“. Forward -looking statements are all statements, which do not describe facts of the past, but containing the words „believe“, „estimate“, „expect“, „anticipate“, „assume“, „plan“, „intend“, „could“, and words of similar meaning. These forward-looking statements are subject to inherent risks and uncertainties since they relate to future events and are based on current assumptions and estimates of EVANGroup plc, which might not occur at all or occur not as assumed. They therefore do not constitute a guarantee for the occurrence of future results or performances of EVANGroup plc The actual financial position and the actual results of EVANGroup plc, as well as the overall economic development and the regulatory environment may differ materially from the expectations, which are assumed explicitly or implicitly in the forward-looking statements and do not comply to them. Therefore, investors are warned to base their investment decisions with respect to EVANGroup plc on the forward-looking statements mentioned in this publication.