HauckSchuchardt Advises Merkur Development on the sale of BlueGate in Aachen
HauckSchuchardt has advised Merkur Development on the sale of its BlueGate property at the Aachen Main Railway Station. The buyer is London-based BaseCamp Group, a developer and operator of student apartments.
Located on Zollamtstraße adjacent to the main railway station, the property covers a total area of 10,280 sqm. A five-part building complex is being erected on this site, including a Holiday Inn Express Hotel with 160 rooms. In addition, 6,000 sqm are to be used for offices and around 5,600 sqm for retail space and restaurants. Furthermore, 300 student apartments are planned to be built, which will be operated by BaseCamp after completion. The complex will include an underground car park and a bicycle garage.
BlueGate will have a gross floor area of approximately 36,000 sqm and is scheduled for completion in 2022. The investment volume will be approx. € 80 million.
The seller, Merkur Development, was advised on the transaction by HauckSchuchardt attorney and partner, Dr. Frank Soesters (real estate law), and by tax consultant and partner, Dominik Berker (tax law).