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Becken realizes the third project development in Hamburg's Brauhausviertel with "Yours"

• Start of construction for 117 one- and two-bedroom apartments and ten commercial units
• Completion in the second quarter of 2021
• Becken invests a total of 133 million euros in the Brauhausviertel

Hamburg, November 26, 2019: Becken, a specialist in the development and asset and investment management of commercial and residential properties, has launched its third project development in Hamburg's Brauhausviertel district with the construction of the new "Yours" residential and commercial building. By the second quarter of 2021, the real estate company will construct 5,750 square meters of rental space for residential and commercial use in the Wandsbek district, including 4,500 square meters for a total of 117 apartments. The apartment sizes of the compact 107 one-bedroom and ten two-bedroom apartments vary between 30 and 55 square meters. In addition, the plans for the approximately 1,250 square meters of space on the first floor include ten units for commercial premises and offices.

Dominik Tenhumberg, Managing Director of Becken Development GmbH, says: "It is important to us to create needs-based living space for both younger and older people in central locations. We have found very good conditions for this in Hamburg's Brauhausviertel. The project is located in a sought-after urban growth zone and is intended to meet the strong demand for modern, small apartments there." The plans for the new building at Mühlenstieg 16 - 20 were drawn up by Schenk + Waiblinger Architekten from Hamburg and envisage a building block with four full storeys and a staggered storey.

The building includes an underground garage with 18 parking spaces. The excavation pit on the 2,180 square meter building plot for "Yours" has been underway since September. The building construction work will begin in December. The construction company Richard Ditting GmbH & Co. KG. was commissioned to carry out the construction work.

Becken has already completed two project developments in Hamburg's Brauhausviertel, the "Mühlenquartier" and the "Mühlenquartier - Meine Königsreihe", and sold them to real estate investors. Stefan Spilker, Managing Director of Becken Holding GmbH, comments on the commitment in Wandsbek: "With 'Yours', our investment in the Brauhausviertel increases to 133 million euros."