Frankfurt-based independent real estate investor and asset manager Kintyre said on Wednesday that it has received full planning permission for its ‘Märkisches Quartier’ project in Reinickendorf, Berlin.
Märkisches Quartier is a mixed-use development totalling 80,000 m2 of commercial and residential accommodation. Located in Berlin’s north-west, the project will provide 360 residential properties, a 12,500 m2 medical centre, 10,000 m2 office, a kindergarten, one of Europe’s largest market halls, retail shopping, and a 8,000 m2 urban rooftop garden for the enjoyment of the residents and occupiers. The project represents a total investment volume close to €300 mln.
Phases 1 & 2 of the project, which involved the renovation of existing buildings, and demolishment of surplus infrastructure, has already been completed. With the recent receipt of final building approval, the project can now proceed with the final phase of the project, the construction of all new build elements of the precinct.
Adam Pearce, co-founder and managing partner of Kintyre said: ‘Schemes like the new MQ, cannot be realised without close collaboration with all stakeholders, we are therefore very thankful to the local authorities, our exiting tenants, local residents, and the great team of professionals that have worked on this project with us for over 4 years already.’
