Stoke Park Capital and Fortress Investment Group plan refurbishment of the Oberpostdirektion in Berlin
Approximately 29.000 sq.m. of office space to be developed in Berlin Charlottenburg
Property expected to be ready for tenancy in early 2021
Berlin, 18th June 2019. Stoke Park Capital, in a joint venture with funds managed by affiliates of Fortress Investment Group, is refurbishing the Oberpostdirektion, a former regional post office, in Berlin. The listed building in Dernburgstrasse in the Charlottenburg district comprises eight floors with a total rental area of around 29,000 sq.m. In line with the requirements for the protection of historical monuments, ultra-modern, large-scale office space in loft style is now being created on site. The property has great connections to the inner circle line of the local regional train (S-Bahn) network and the A100 motorway as well as parking spaces for cars and bicycles. Due to its campus character, the building is suitable for a single tenant as well as for several anchor tenants. Completion of the refurbishment is scheduled for early 2021.
The Oberpostdirektion, built in1925, is one of the main works of Expressionism in Berlin. Some 100 years ago, the building in the City West was already a place of communication and encounter. „With the repositioning of the Oberpostdirektion, we are meeting the strong demand for large, contiguous areas in a central city location. Due to the ideal connection to Berlin’s infrastructure as well as the gardens and open spaces belonging to the building, the property has the potential to become the most sought-after new office location in Charlottenburg,“ says Christoph Unger, Managing Director of Stoke Park Capital.
BNP Paribas Real Estate and Savills will be the two lead agents for the Oberpostdirektion. Bollinger + Fehling Architekten is responsible for planning of the redevelopment work. The Berlin architects are known for their expertise in the conversion of existing properties and listed architecture in the German capital.
About Stoke Park Capital
Stoke Park Capital is a Germany-focused real estate investment manager that combines an Anglo-Saxon investment approach and discipline with strong knowledge of and access to the local market. The firm pursues a value driven investment strategy and has a primary allocation to the retail and office segments. To date, Stoke Park Capital has invested in and managed transactions valued at € 1.1 billion in Germany for institutional investors and family offices. Senior members of the team have in the past been involved in the acquisition and management of over € 4 billion of assets in Germany, including portfolios, stand-alone assets and operating companies.