The partners are developing 88 high-quality residences on Cleveland Street in the Fitzrovia district as well as approximately 3,500 sq m of retail space and 15 affordable homes within the scope of the joint project. The project consists of three buildings and offers condominiums of different sizes as well as various amenities such as a gym, sauna, lounge, and other communal areas and garden areas. The joint development project has an investment volume of around 210 million euros. Completion is scheduled for 2021.
“We are extremely pleased with the progress of the project and we are optimistic that the demand for high-quality apartments will remain high, even in these challenging times,” said Henrie W. Kötter, ECE’s Chief Investment Officer and Managing Director responsible for the “Work+Live” division. “This is our first project in the UK, and we have made further investments there since then because we are convinced of the British residential market’s excellent prospects and its high degree of resilience. As such, we intend to develop further projects and make further investments there in the future.”
Dr. Markus Wiedenmann, CEO of Art-Invest Real Estate, commentst: „The project is a prime example for modern urban living in London. Thanks to the excellent connection to offices, shops, restaurants, and nearby Regent’s Park, Cleveland Street perfectly combines inner-city living and working. We are delighted to be able to follow the original schedule of this project even in these challenging times.“