Cologne/Essen – The Greyfield Group and generation 3 have fully let a property formerly used as an office building at Hoffnungsstraße 2 / Ottilienstraße 5 in Essen to the Germany-wide serviced apartment provider ipartment GmbH from Cologne.

The centrally located building, which was originally built in 1956 and acquired by the joint venture between the Greyfield Group and generation 3 GmbH in 2023, is undergoing a comprehensive revitalization. The aim of this project is to transform the existing building into a modern, sustainable property. “Our aim was and is to preserve the building fabric and thus avoid additional CO2 and resource consumption. This project plays a pioneering role for ageing office properties, as an existing building is being renovated in a contemporary and sustainable way, thereby extending the life cycle of the building,” explains Vladimir Sejkmanproject developer at the Greyfield Group.

As part of the revitalization of the existing building, 142 new serviced apartments are being built on a gross floor area of around 5,000 square metres in a prime city centre location. These will be offered in three different size categories (XS, S and M) between 18 and 40 square meters on six floors and furnished in ipartment's usual sophisticated design. Highlights of the building include a design lounge with work space, a digital self-service kiosk and rental bicycles. Guests also have access to a comprehensive digital guest journey and an all-round service.

Ralph Stock, shareholder and CEO of ipartment GmbH, is delighted about the return to Essen: “We are delighted to be back in Essen. We already had properties here a few years ago - this city had and still has a lot of potential and the new property is another strategic building block in our expansion strategy. We are also proud to have found partners in the joint venture between the Greyfield Group and generation 3 who have made a clear commitment to sustainability in the revitalization of existing properties.”

The conclusion of a rental agreement on a “green lease” basis is particularly noteworthy. With this type of contract, both companies focus on an environmentally conscious approach to the resources used in the use and management of the property, such as the consumption of energy, water and waste. “Green leases are a forward-looking step towards more sustainable business models and make a significant contribution to promoting energy and resource efficiency in the real estate industry,” says Marcus Löwe, COO of ipartment GmbH.

Construction of the project is scheduled to start in the second quarter of 2025, with the building for the interior fit-out to be handed over after a construction period of around one year.

Further information on the Greyfield Group:
The Greyfield Group is a project developer and portfolio holder that was founded in 2012 and focuses exclusively on building in existing buildings. The Essen-based group includes the brands Greyfield, Liwon, Stana and re:unit, each of which is active in the life cycle of a property. The Greyfield Group has set itself the goal of making identity-forming properties that are getting on in years usable again, thus saving them from demolition and then returning them to the people. For Greyfield, the conservation of resources begins with stopping further land sealing. By preserving the existing building fabric, climate protection is consistently taken further. Greyfield thus stands for the reuse of the earth's gray, built-up areas. This means re-development instead of development in order to preserve what already exists and to understand the building fabric as a storehouse of materials and resources. The Association for Building in Existing Contexts, initiated in 2023, finds solutions to the challenges of existing buildings and pools knowledge to make the transformation more efficient. In addition, the non-profit Greyfield Foundation promotes projects, science, research and education in the field of redevelopment, building in existing buildings, sustainable urban planning and building culture in the sense of resource-neutral material conservation. www.greyfieldgroup.de

Media contact:
Martina Rozok
T +49 30 40044681
M +49 170 2355988
m@rozok.de
www.rozok.de

Further information on generation 3 GmbH:
Die generation 3 ist eine Tochtergesellschaft der niedersächsischen Lindhorst Gruppe. Bei uns steht der Mensch und die Natur im Mittelpunkt unseres Handelns. Als Teil eines traditionellen Familienunternehmens haben wir es uns zur Aufgabe gemacht, nachhaltige und dynamische Lebensräume zu schaffen, die für die nächste Generation gedacht sind. Wir haben ein klares Verständnis von Architektur und lieben die Herausforderung des Bestandes. Wir gestalten Gebäude energieeffizient, indem wir bei der Entwicklung den Klimaschutz miteinplanen und unsere Projekte mit wiederverwendbaren und recycelten Baumaterialien sowie gesunden Baustoffen realisieren. Die Natur dient uns dabei als Vorbild. All unsere Projekte betrachten wir aus einem nachhaltigen und enkeltauglichen Blickwinkel. Bei der Umsetzung für die jeweiligen Projekte entwickeln wir eigene kreative Konzepte sowie flexible, und passgenaue Lösungen. Wir schaffen anspruchsvollen Lebensraum mit hoher Aufenthaltsqualität. Unser Anspruch bei allen Projekten ist es, Fundamente für Generationen zu schaffen. www.generationdrei.de

Media contact:
Ann-Sophie Eggert
T +49 5143 9810 644
ase@generationdrei.de

About ipartment GmbH:
ipartment GmbH was founded in Cologne in 2008. The company is now the leading German provider of serviced flats in the business long-stay segment. With "First Choice Second Home", ipartment offers a concept for people who prefer to stay "at home on the road" rather than in a hotel. What makes it special is the design-oriented furnishing of the flats and houses, the fully digitalised guest journey and the all-round service. From two flats in Cologne at the beginning, there are now 1,300 Design Apartments in Germany. The flats range in size from around 20 square metres to around 70 square metres, some with balconies or even roof terraces. The current occupancy rate is 92 per cent. Of these, 90 per cent are business travellers and the remaining 10 per cent are private travellers. The average length of stay in the long-stay sector at ipartment is 45 days. The approximately 70 employees currently manage 17 locations and a co-working space. The focus is on further expansion - particularly in other European countries.

Press contact:
ipartment GmbH
Melanie Brochhaus-Piel
brochhaus@ipartment.de