Real estate industry
P&P Group sells property in Bamberg to local investor
  • Residential and commercial building with over 1,200 sqm of space in a prime location directly adjacent to the old town
  • Modernized property with steady cash flow
  • P&P Group properties remain in demand among investors. Further sales being planned

Fürth/Bamberg, December 01, 2023 - The real estate investor and developer P&P Group has recorded another sales success. The company sold a residential and commercial building in a very good location in Bamberg to a local investor. "Interest in our portfolio properties remains high despite the difficult overall economic conditions," says Christoph Langfritz, CIO of the P&P Group, with satisfaction: "It is important to be able to offer investors a sustainable and suitable property. Then the offer is convincing even in these times."

The residential and commercial building in the city center benefits from a balanced mix of residential and commercial space, providing the basis for a sustainable investment. The four-storey property is in a prime location in the Franconian city, just a few hundred meters from both the pedestrian zone and the old town, which is a UNESCO World Heritage Site. The building, originally constructed in the 19th century, will be modernized and fully let to the new owner.

Thanks to the train station, which is also just a few hundred meters away, there are also attractive regional and national public transport connections.

Eva-Maria Zurek, CEO of the P&P Group, also sees the continued strong demand for P&P properties as confirmation of the company's good long-term work: "Our successful business operations in the past continue to enable us to carry out developments despite the cautious approach of the banks and then offer these properties at realistic prices. As a result, the deterioration in general conditions is having much less of an impact on us, which is also confirmed by the high demand for our existing properties and condominiums."

There will also be numerous other investment opportunities for the P&P Group in the coming years. By the end of 2024, the company will launch a total of ten new construction projects with more than 1,500 apartments in the metropolitan regions of Nuremberg and Munich. In addition, P&P is making a further EUR 100 million available for the acquisition of land and existing buildings with revitalization potential in these regions "Thanks to our very good equity base and accumulated reserves, we can continue to pursue this strategy consistently and take advantage of the historic opportunity in this special situation," explains Zurek.

Contact person for media:

Luzia Winkler
Isaak-Loewi-Straße 11
90763 Fürth
Phone: +49 (0) 911 – 766 06 146

Wolfgang Ludwig
Mathias-Brüggen-Straße 124
50829 Cologne
Phone: +49 (0) 221 – 292 19 282