Leipzig – AOC Immobilien AG, a hidden champion among real estate developers in eastern Germany, will take over a new construction project from GRK Immobilien GmbH: the Leipzig “Urbanum 1” development will be built west of the centrally located Wilhelm-Leuschner square. AOC Immobilien will invest a three-digit million euro amount in the prestigious project. Luther will advise AOC on the takeover and further development of the project.
The city-centre development will be built on Nonnenmühlgasse at Wilhelm-Leuschner square, close to the visually striking St. Trinitatis Provost Church and the City Hall. A multi-storey block development and two basement levels are planned for the 5,200 square metre prime plot. In addition, around 16,000 square metres of office space, 7,000 square metres of residential space and 2,000 square metres of retail space as well as an underground car park with about 220 parking spaces are intended to be built.
The new urban development will be built on a plot of land that has lain vacant since World War II. This project will fill a large gap in Leipzig's landscape. The basis for the new construction project is a concept study prepared on the basis of the development plan and an architectural competition.
AOC instructed Luther for the first time. “We have been impressed by the professional and at the same time pragmatic cooperation and will therefore rely on the Luther team for further projects,” said Till Schwerdtfeger, CEO of AOC.
About AOC Immobilien AG
AOC, based in Magdeburg, is one of the largest owner-managed project developers in the real estate market in eastern and central Germany. Its project pipeline, which comprises offices, flats and retail space, is worth around EUR 1 billion.
About GRK Immobilien GmbH
GRK has for decades been one of the leading Leipzig-based project developers: https://grk.de/
On behalf of AOC:
Luther, Real Estate: Dr Thomas Gohrke (Partner, Lead), Theresa Becker (Senior Associate), Patrick Gocht (Senior Associate)
Luther, Corporate/M&A: Denis Ullrich (Partner)