Developer Strabag Real Estate has won the tendering process for the development and management of a government building in the German city of Potsdam.
The total investment and financing costs for the project amount to €57m. Deutsche Kreditbank will provide financing for the deal.
The project will be realised through a public-private partnership and includes the construction of a 10,000 m2 property on Henning-von-Tresckow-Strasse.
Involved in the construction process will be Strabag and developer Ed. Züblin. The partnership will develop a property around three inner yards comprising 15 building units as well as an energy-efficient cooling system and a 1,000 m2 solar electricity facility.
Once completed, the building will accommodate 460 members of staff of the ministry for work, social, women and family as well as the ministry for environment, health and consumer protection.
Construction work is expected to start in autumn this year and the property will be completed by mid-2015.
Following completion the property will have a value of €25m, said a company statement.
