A British project developer has acquired a ca. 5,000 sq m plot in the new Luitpold district, located on Scharrer and Regensburger Street, in Nuremberg, Germany, for an undisclosed price. The property was owned by a project development company of Nuremberg based KIB Group. The buyer, who is headquartered in London with branches in Berlin and Vienna, is developing over 400 furnished apartments for co-living, student housing, and micro-living on a gross floor area of around 16,000 sq m.

As a result, the provider of high-quality student living will soon have a second presence in Germany. Savills exclusively facilitated the transaction as an off-market deal and provided advisory services throughout the process. The Berlin office of Dentons acted as legal advisor to th e buyer with a team led by real estate/hospitality partner Jan Hellner and the law firm Sozelio under partner Dr. Michael Grüner acted as legal advisor to KIB. Both have been working in partnership with their clients for many years.
 
There are many spaces for living and working, including offices, retail, and services, as well as various residential assets under development in the Luitpold district, on the former "Autohaus-Krauss" site. Several residential buildings have already been completed, with a modern Edeka supermarket located in a listed building, along with a Denns Biomarkt and the Feihl bakery chain with a coffee shop on-site. A Kieser-branded gym complements the offering. The district is well-connected with excellent transport links and is close to the old town, various universities, including Friedrich-Alexander University, and the TU Nuremberg, which is under construction. The nearby recreational areas Luitpoldhain and Wöhrder See with its city beach are also within easy reach.

"We at KIB chose the developer owned by a family business as a partner because we were convinced by their concept. We consider the location ideal for this use and a real enhancement for the Luitpold district," said Norbert Grund, Managing Director of the KIB Group.

"We are very pleased to have identified a buyer off-market who perfectly complements the Luitpold district with high-quality furnished apartments for students. The future residents will further revitalise the district and benefit from the excellent location and infrastructure, the attractiveness of the buildings, and the modern apartments," said Marco Högl, Head of Residential Capital Markets at Savills Germany.