Developer S&P completes sale of €43m construction project

German investor-developer Sontowski & Partner Group (S&P) has sold the new headquarters being constructed for electronics and engineering firm Heitec to the Erlangen-based company.

Gossenquartier4work, which has been bought by investors backing Heitec, is one of three projects being developed by S&P in the Gossenquartier for a total investment of €43 mln. The technology specialist is due to move into the 4,100 m2 facility once it is completed in March 2017.

S&P has already disposed of its parallel construction projects Gossenquartier4students, a complex of 134 student apartments, and Gossenquartier4living, comprising 63 residential units, which together occupy 11,400 m2 of residential and office space.

‘After we managed to dispose of the residential developments 4students and 4living within a very short time, the sale of the office project 4work is the last stage in the sales process,’ said Klaus-Jürgen Sontowski, managing partner of S&P.

‘We are pleased that we have created the infrastructure for the further expansion of our company at the same time as offering our employees a working environment that meets the most up-to-date technical specifications,’ said Heitec spokesman Johannes Feldmayer.

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