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Issuer: P&P Group
/ Key word(s): Real Estate/Expansion
Bamberg/Fürth, 05.09.2024 – The P&P Group has reached a significant milestone in the development of the Lagarde Campus, with more than 200 of the 324 available units sold since sales began last year. “The properties on this historic site have proven highly attractive to both investors and owner-occupiers, allowing us to meet our sales targets despite a challenging market environment,” said Christoph Langfritz, CIO of the P&P Group. “This rare combination of prime location, superior quality, and innovative design makes these properties particularly desirable within this vibrant metropolitan region.” Langfritz further emphasized that the commitment to high construction and location standards was pivotal in the swift sale of approximately two-thirds of the units: “Even during the period of low interest rates and strong demand, we maintained our dedication to quality. This unwavering commitment is now yielding results, as our clients and partners appreciate our reliability across varying market conditions.” At the Lagarde Campus, the P&P Group is developing the Sunshine Lofts, which offer a variety of living spaces, from 21-square-meter one-bedroom apartments to 97-square-meter four-bedroom family homes. “This diverse range ensures a vibrant community and contributes to both a high quality of life and the stability of property values.” The development will also feature a range of amenities, including services from private providers, municipal authorities, healthcare facilities, and cultural institutions. New residents will begin moving into the Lagarde Campus in phases, with completion expected by early 2026. Since the buildings are located in a designated redevelopment area, investors and owner-occupiers can benefit from special tax depreciation under Sections 7h and 10f of the German Income Tax Act. The Lagarde Campus is a model for sustainable energy and mobility. Up to 80% of the energy required is generated on-site through a mix of geothermal energy, wastewater reuse, heat pumps, photovoltaic systems, a combined heat and power plant, and advanced energy storage management. With centrally planned parking facilities and traffic-calmed zones, pedestrians can enjoy large areas free from vehicular traffic during designated times. In addition, prioritized cycling routes and shared e-mobility options – including e-scooters and e-cargo bikes – further enhance the quality of life for future residents.
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