CITYGROVE’s first acquisition in Germany and on the development of a „niu“ hotel in Dusseldorf

GSK Stockmann advises CITYGROVE on its first acquisition in Germany and on the development of a „niu“ hotel in Dusseldorf in cooperation with NOVUM Hotel Group

With comprehensive support by a real estate team of GSK Stockmann, British investor CITYGROVE realizes a new „niu“ hotel in Dusseldorf.

London based CITYGROVE is an experienced international project developer with high market recognition especially for its high profiled hotel developments. Following numerous projects in the UK and in Spain, CITYGROVES now expands to the German market. The first project will be the new „niu Tab“ hotel in Dusseldorf with approx. 430 rooms. The start of building is scheduled for the second quarter of 2018. For this development, CITYGROVE seized the opportunity to acquire a property in Moskauer Str. by the city of Dusseldorf, being one of the last undeveloped plots next to Dusseldorf central station. The centrally located property with a favourable traffic connection is surrounded by many cafés, galleries and exceptional retail shops.

“niu” is an innovative brand of the NOVUM Hotel Group which operates already 33 hotels. The new hotel stands out due to its central location and its sophisticated architecture. Each niu hotel has an individual design concept matching its specific location. With innovative architecture and a focus on high quality of life, this hotel brand particularly appeals to young and creative people. The design focus of the new “niu Tab” in Dusseldorf will be Asia. The architect of the building is Hamburg based SKAI Siemer Kramer Architekten Ingenieure.

GSK Stockmann advised CITYGROVE comprehensively on the acquisition of the plot from the city of Dusseldorf as well as on the negotiation of the lease agreement with NOVUM Hotel Group. Further, GSK Stockmann will continue to assist CITYGROVE on all fields of construction law and statutory regulations for the realization of this development.

GSK Stockmann advised CITYGROVE with Lars Bollensen (Picture) (Construction/Real Estate), Dennis Stenzel, Christoph Strelczyk (both Real Estate/Tenancy), Jonas Ph. Wilkens and Julian Pöhler (both Construction/Real Estate).

Involved fees earner: Lars Bollensen – Gsk Stockmann; Dennis Stenzel – Gsk Stockmann; Christoph Strelczyk – Gsk Stockmann; Jonas Philipp Wilkens – Gsk Stockmann; Julian Pöhler – Gsk Stockmann;

Law Firms: Gsk Stockmann;

Clients: Citygrove Securities PLC ;