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04.12.2017

Kintyre presents plans for 'Märkische Zentrum' in Berlin to local authority, existing and new tenants

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Berlin, 4 December 2017 – Following a period of intensive planning and design, real estate investor and asset manager Kintyre Investments has outlined its preliminary proposals for the refurbishment of the Märkische Zentrum, in Berlin-Reinickendorf. Before finalising its proposals, Kintyre is undertaking a consultation with the relevant authorities and stakeholders.

In order to explain the overall concepts of the project and highlight the inclusive nature of the proposed scheme, Kintyre is in close consultation with new and existing tenants, as well as the respective interest groups of the Märkische Viertel. The plans envisage a new shopping mall, which utilises parts of the existing property and combines it with new areas to create an extensive mix of space suitable for different uses and occupier types. The scheme will see the construction one of the largest market halls in Berlin, ensuring that the centre remains the central point for communication, dining and events for both the residents of the Märkische Viertel and customers from the surrounding districts. The plans further include clustering and expanding the existing medical facilities to create a dedicated healthcare centre, and increasing the amount office space in the within the property. The existing residential building, which has been up to 95% vacant for many years, due to is extremely poor structural condition will be replaced by two new residential buildings providing more than 200 modern, sustainable apartments. The first reconfiguration works to prepare for the entire project, and relocation of existing tenants in the residential, restaurant, medical and retail sections, are scheduled for 2018. The construction work on the revitalisation of the Märkische Zentrum will then start in 2019. The centre will remain in operation during the various phases of the reconfiguration works and the building work should be completed by 2022. The current buildings of the Märkische Zentrum, which provide a total lettable area of around 55,000 sq m, occupy a 37,000 square metre site. Originally built in the 1960s, the property has been modernised and extended several times.

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