Real estate investor from Düsseldorf buys land in Cologne

Real estate investor from Düsseldorf buys land in Cologne

Cologne-Ehrenfeld is a district northwest of the centre of Cologne, which still belongs to the inner city areas and is characterised by a colourful mix of residential and commercial buildings. There are also still many gaps between buildings and wasteland. The former workers’ and industrial quarter presents itself today in a diverse way with a lively cultural scene and is one of the hippest residential areas in Cologne. The Düsseldorf real estate investor Alfons & Alfreda has now acquired a vacant site here to realise an office campus. Nothing is known about the purchase price. This article is based on the unique List of the 400 largest German real estate investors in Germany.

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Neighbourhood development with office use as a focal point

The 15,800 square metre site is located on Widdersdorfer Strasse – a central traffic axis with mixed development that adjoins the Ehrenfeld district centre to the west. The site was previously owned by the Hess Group, a Cologne-based family business that has been in existence for almost a hundred years and trades in car and engine parts and other technical components. A district development is planned on the site – mainly with office space, supplemented by areas for gastronomy, retail, leisure and fitness. The project is scheduled for completion by the end of 2025.

The Düsseldorf-based Alfons & Alfreda Management GmbH is still a young company and was only founded in 2018. The focus as a project developer is on opportunistic investments in German metropolitan regions, preferably in good micro-locations with the corresponding local supply infrastructure. Developed and undeveloped plots of land of 3,000 square metres and more are acquired for new development and redevelopment. Alfons & Alfreda is also involved as a portfolio buyer – both in residential and commercial projects. Another important project is the development of an office campus at the new Berlin airport BER on a 35,000 square meter site.
Source: Immobilienmanager Picture source: Unsplash

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