München/Fürth, 10. November 2022 – ZAR Real Estate Holding and P&P Group have agreed on the sale and joint development of an attractive building plot in the west of Nuremberg. The companies are thus expanding their strategic partnership. In addition, ZAR Real Estate Holding is continuing its expansion course in the Nuremberg metropolitan region. In April, the company had already acquired the former Metz site there and taken over project development together with the P&P Group.
The property, which has now been acquired by ZAR Real Estate Holding, covers approximately 3,590 square meters and is located at Fürther Straße 330 - and thus in an up-and-coming district location in the west of Nuremberg near the city limits of Fürth. A special feature of the site is its location between the two major Franconian cities. Nuremberg's city center is only four kilometers away, and Fürth's city center is only three kilometers away.
The development of modern residential properties with a gross floor area of approximately 11,500 square meters is planned on the site. The power supply for the properties will come from renewable energy sources and meet the companies' consistent ESG criteria. Groundbreaking is scheduled for 2024.
The property is optimally connected to public transport - the Muggenhof subway station and the associated bus stop are just a few steps away. Nuremberg's main train station can be reached by train in eleven minutes, and Fürth's main train station in just five minutes. In addition, future residents benefit from an extensive local supply in the immediate vicinity.
"Our core competence is the creation of planning rights, where we focus on projects in major cities and economically strong upper centers. When it comes to realization, we like to rely on the know-how and expertise of local partners, which is why we are pleased to realize another project in Nuremberg with the P&P Group," says Martin Hofmann, CDO of ZAR Real Estate Holding. "Despite the current challenging market environment, our stable financing structure allows us to acquire attractive properties and projects like this one" adds Daniel Argyrakis, CFO of ZAR Real Estate Holding.
"With this project, we are once again creating modern and urgently needed living space in an attractive location in the middle of two major cities. The excellent transport links allow for high flexibility and mobility. We are pleased to continue our successful cooperation with ZAR Real Estate Holding through this promising project," says Michael Peter, CEO of P&P Group.
About ZAR Real Estate Holding
ZAR Real Estate Holding is a fully integrated developer for real estate projects operating throughout Germany with headquarters in Munich and branch offices in Berlin and Düsseldorf. The Munich-based company focuses on the acquisition of attractive sites in major German cities at an early stage in order to leverage value-creation potential through the active creation of building rights and realization. The aim is to create sustainable, livable living and working spaces through modern and attractive urban district development.
Further information on ZAR Real Estate Holding is available on request or can be found at www.zar-holding.com.
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