Berlin/Hamburg, February 8, 2017 - The real estate company Becken, a specialist in the development, realization and long-term asset and investment management of commercial and residential properties, is purchasing a further plot of land in Berlin-Charlottenburg to complement the neighbouring site already acquired in 2015. The purchase was carried out via a structured bidding process, which was managed and implemented by auxenia RE GmbH and VANDENBERG Immoconsult GmbH. The parties have agreed not to disclose the purchase price. The site in Knesebeckstrasse, close to Ku'damm, has been home to a hotel since 1971 and has a total area of around 2,000 square meters. Following the expiry of the existing phase, Becken is planning a new building project with small-scale, high-quality office space.

Dr. Michael Becken, Managing Director of Becken Holding GmbH: "After opening our branch in Berlin in 2014, we are now embarking on our second project development in the capital. We initially acquired a first plot of land for this in autumn 2015 and are delighted to now be able to realize the planned project on an expanded scale. The new building project will offer a total of around 10,000 square meters of gross floor space for office tenants."

According to a recent bulwiengesa study, the proportion of office workers in the German capital has already risen by 24% over the past ten years. The experts at bulwiengesa expect a further increase of 62,000 office employees in Berlin by 2020. "In addition to the shortage of housing, the office space available in good inner-city locations is also becoming increasingly scarce," comments Stefan Spilker, Managing Director of Becken Holding GmbH, adding: "We therefore see great potential for our project in Knesebeckstrasse and a correspondingly high demand."