With the acquisition of a 5,330 square metre plot in Frankfurt's Riedberg district, YOUNIQ AG is set to realise its first project in the state of Hesse after similar projects in Greifswald, Leipzig, Erlangen, Karlsruhe and Munich. The plot is located on Max-Born-Strasse and was sold by Hessen Agentur and project developer Gross & Partner. 230 student apartments based on the design of architect Jan Dirk Müller-Seidler will be raised here and enable students to have their own abode while remaining an integral part of the student community. Construction is scheduled to start in Q1 2011, and to be completed in time for the winter semester 2012. The investment volume totals 19 million Euros.
"A new city quarter is being created in Frankfurt-Riedberg that will offer excellent public transportation connectivity to downtown Frankfurt," elaborated Rainer Nonnengässer, CEO of YOUNIQ AG. "As the natural science departments of Frankfurt University are centred in Riedberg, the district is developing into a new campus location that will be the academic home to about 6,500 students. The idea underlying the first YOUNIQ property in Frankfurt is to meet the demand for student accommodations that this development is bound to generate," Nonnengässer added.
The studio apartments will have an average size of 22 square metres, high-end furnishings, and their own kitchen and bathroom. Rent rates are all-inclusive and start as low as 425 Euros. The all-in rent includes all service charges, electric power, cable TV, and a high-speed Internet connection. In addition, students have free use of learning lounges as well as a TV lounge and a laundry lounge as common facilities. Fit-out and design of this YOUNIQ property in Frankfurt-Riedberg were developed in cooperation with the internationally renowned design and architectural firm Matteo Thun & Partners. Its holistic concept combines flexibility, quality and efficiency in an interior and product design that translates into a modern, forward-looking type of domicile for students.
YOUNIQ AG is a listed specialist for student housing with headquarters in Frankfurt am Main, Germany. Under the name of YOUNIQ, the company develops, sells, and operates concept-driven properties for students that are managed on behalf of end investors or else are held in a proprietary portfolio. The design of the student apartments was masterminded by Matteo Thun, an internationally renowned designer and architect. In addition to conventional construction, the company is increasingly relying on a timber module construction and seeking a DGNB green building certification. Majority partner of YOUNIQ AG is a fund owned by the private equity investor and asset manager Corestate Capital AG with headquarters in Zug, Switzerland.
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