• 82 residential units in the heart of the city
• Underground parking garage with 90 bays
Passau, 04 March 2020: Consus Real Estate AG today celebrated the start of construction of the company’s new Brauhofe Quartier development on the site of the former Peschl brewery in the heart of Passau. Joined by Lord Mayor Jürgen Dupper, the Consus management team broke ground on the development project’s first construction phase.
The development’s first residential building is named “auers” and takes its name from the adjacent street Auerspergstraße. Upon completion, the new quarter will feature three residential buildings. The first of these, auers, has a gross floor area of 7,800 square metres and accommodates 82 residential units. Sales of the residential units have already got off to a successful start. The property also features an underground parking garage with 90 bays, including modern duplex parking. The building permit was issued by the city of Passau in December 2019.
“Creating new living space is one of society’s most acute concerns. We can only meet this challenge when the public sector and private investors work together, which is why I am so delighted to see Consus Real Estate AG break ground on such a major development in our ‘Three River City’. By revitalising this former brewery site, we are creating a new neighbourhood and putting this central site to sensible use”, says Jürgen Dupper, Lord Mayor of the City of Passau.
The former brewery site encompasses around 32,000 square metres (GFA). In addition to the three residential buildings with around 280 residential units, which include a number of social housing units, the development will also create several commercial units and a hotel. Consus is investing more than EUR 100 million in the neighbourhood development, which is scheduled for final completion in early 2023.
“Demand for apartments in central Passau is strong. Students, families and couples all want to live in the heart of the city, in a modern and attractive environment with plenty of greenery and open space. Brauhöfe Quartier will satisfy the highest architectural standards and create valuable new living space in central Passau”, explains Jörg Kesting, Managing Director of Consus Development GmbH & Co KG.
About Consus Real Estate AG
Consus Real Estate AG (“Consus”), headquartered in Berlin, is the leading real estate developer in Germany’s Top 9 cities. Consus Real Estate’s development portfolio had a gross development value (GDV) of EUR 10.3 billion as of 30 September 2019. Consus focuses on the development of entire neighbourhoods (quartiers) and standardised apartments, which are sold to institutional investors in forward deals. In-house construction expertise and the capability to digitalise construction processes allow Consus to operate along the entire property development value chain. Consus manages and executes development projects from planning through construction to transfer of ownership, and provides property management and related services through its subsidiaries CG Gruppe AG and Consus Swiss Finance AG. Consus’s shares are listed in the Scale segment of the Frankfurt Stock Exchange, the m:access segment of the Munich Stock Exchange, and are also traded on XETRA in Frankfurt..