CORPUS SIREO Real Estate has acquired a mixed-use development site in Hamburg to build around 55 residential units and commercial space.

Corpus Sireo said it bought the 1,100sqm site located on the corner of Holstenstrasse 73/75 and Thadenstrasse 164 in the Altona district from a German commercial developer.

Construction is scheduled for early next year and work is expected to complete in early 2021.

The new-built units will range from micro-apartments for students to family-friendly apartments with up to four rooms. In addition, commercial space for retail will be created on the ground floor.

Andreas Fuchs, the branch manager at Corpus Sireo’s residential development in Hamburg, said: “We are excited to develop new residential units in Hamburg, in the popular triangle between Schanzenviertel, Ottensen and Kiez.

“The high utilization of the property allows for 6-storey buildings. We will create a visual highlight and high-quality living space on the corner of Holstenstrasse and Thadenstrasse through the very appealing, modern architecture with its clear design.”