POELLATH advises Periskop on the sale of a development site in Berlin to LABORGH Investment
A company advised by Periskop Development (“Periskop”) has sold a site of approximately 31,100 square metres located at Weißenseer Weg / corner of Konrad-Wolf-Straße in Berlin-Lichtenberg to LABORGH Investment. The parties have agreed not to disclose the purchase price. POELLATH provided legal and tax advice to Periskop in connection with the sale.
The site is one of the most prominent development areas in the Lichtenberg district and is located in close proximity to the Sportforum Berlin. Over recent years, Periskop has played a key role in driving forward the planning law development of the site and, as part of the part-nership with LABORGH Investment, will continue to support the ongoing zoning plan (Bebau-ungsplan) procedure.
The project envisages the development of an urban mixed-use quarter comprising around 700 residential units as well as commercial space with a gross floor area of approximately 15,000 square metres. Planned uses include local amenities, small-scale retail, a daycare centre, as well as medical and other neighbourhood-related services. Construction is ex-pected to commence in 2027, subject to further progress in the planning process.
POELLATH provided legal and tax advice to Periskop in connection with the sale with the following Berlin-based team:
- Dr Marcel Guenoub (partner, real estate transactions)
- Dr David Hötzel (associated partner, tax)
- Marina Hennings (senior associate, real estate transactions)
- Lena Werner (senior associate, real estate transactions)
