Expansion of C&P Immobilien AG in Germany
NEXT STOP: WUPPERTAL
Following the highly profitable ‘Tower Rostock’ project, C&P Immobilien AG is taking the next step forward in the ‘existing real estate’ segment in the Bergisches Land region. A total of 10 properties with a total of 86 apartments were purchased in Wuppertal. These will be sold for the most part in 2022 after redevelopment or renovation.
New markets, new opportunities. C&P Immobilien AG has been expanding into the German real estate market under this motto since 2021 and offers investors attractive returns with projects from the ‘existing real estate’ segment. Following the successful launch of the ‘Tower Rostock’ project, the “journey to hidden returns” (as CEO Markus Ritter commented on the newly created offer of investment in selected projects away from traditional real estate hotspots) has now reached Wuppertal in North Rhine-Westphalia.
The big city in the countryside
The industrial and university city of Wuppertal offers approximately 362,000 inhabitants an impressive history and extraordinary quality of life in addition to the listed Schwebebahn Suspension Railway and 4,500 architectural monuments. Extensive forests and green spaces along the River Wupper, from which the town takes its name and which winds its way through the city area for around 20 kilometres, emphasise the beauty of the Bergisches Land and provide for first-class recreation. Originally made prosperous by the textile industry, the large villa districts and apartment buildings from the Gründerzeit period still bear witness to the fact that Wuppertal is considered the starting point of Germany’s industrialisation.
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„Our entry into Wuppertal is Ing. Markus Ritter |
The Wuppertal Portfolio
Ten of these prestigious properties, which are spread over three municipalities and each in a prime location, were purchased by C&P Immobilien AG with the aim of renovating the vacant apartments and their technical equipment as well as the communal areas and façades in a resource-saving and sustainable manner before selling seven of them or 59 of the 86 apartments. Three properties with a total of 27 apartments will remain in C&P’s asset portfolio.
As announced, C&P Immobilien AG is planning to establish at least three other property management locations in Germany besides Berlin, one of which will be opened in Wuppertal.
Further information:
www.cp-ag.at
