KGAL begins letting apartments at Munich’s Candidplatz residential development comprising 355 unsubsidised and subsidised homes
KGAL Investment Management has started letting apartments at the Candidplatz residential development in Munich-Untergiesing. The complex comprises six existing buildings with additional storeys and a new-build complex consisting of five buildings, including a 13-storey residential tower. KGAL acquired the development after the planning phase and managed it through construction. The 355 apartments range from one to five rooms, some with views of the Alps. The total lettable area is around 24,000 square metres.
- The development forms part of the KGAL Wohnen Core 3 fund and comprises 355 apartments in new and existing buildings
- Marketing began in October for 82 of the 186 recently completed new-build apartments
- An EDEKA supermarket and a childcare centre complement the offering
KGAL Investment Management has started letting apartments at the Candidplatz residential development in Munich-Untergiesing. The complex comprises six existing buildings with additional storeys and a new-build complex consisting of five buildings, including a 13-storey residential tower. KGAL acquired the development after the planning phase and managed it through construction. The 355 apartments range from one to five rooms, some with views of the Alps. The total lettable area is around 24,000 square metres.
“The start of letting marks an important milestone for the Candidplatz residential development,” says Karl Neumann-Henneberg, Portfolio Manager at KGAL. “The range of apartment sizes appeals to a broad target group. At the same time, the development combines unsubsidised and subsidised housing with local shopping facilities, childcare and a sustainable mobility concept in an attractive location.”
The new-build section comprises 186 apartments, of which 117 are unsubsidised. Marketing has begun for 82 of these apartments. A further 69 new-build apartments were developed under the income-based housing subsidy programme (EOF).
The development offers a modern mobility concept with 750 bicycle parking spaces, electric car sharing, e-bike sharing and an on-site bicycle workshop. A total of 87 underground parking spaces and transferable MVG public transport tickets complement the offer for residents. The property is located right next to Candidplatz underground station, with direct connections to the city centre.
A ground-floor unit was handed over to EDEKA on 30 September. The supermarket chain will complete its fit-out shortly. The development also includes a childcare centre, for which final planning and coordination with the City of Munich are currently under way.
The Candidplatz residential development forms part of KGAL Wohnen Core 3. This institutional real estate fund invests in residential properties in Germany that meet ESG criteria and feature sustainable building fabric.
Further information on the development is available at www.dein-candid.de.
Please credit KGAL when using the image.
