EANS-News: YOUNIQ drives ahead with expansion of core "Student Housing" business
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Company Information
Frankfurt am Main (euro adhoc) - - Rental start of development project in Karlsruhe entailing a total of 370 student apartments - Third property in Leipzig: construction now underway for 76 units in the Schützenstrasse - Construction commences in Frankfurt am Main with 233 student apartments expected in short term
Frankfurt am Main, May, 2 2011 - YOUNIQ AG, one of the leading providers of high quality student accommodation in Germany, has achieved further milestone targets in the implementation of its expansion strategy. The company's focus on its "Student Housing" business segment is gaining further dynamics with the construction start of the development project in Leipzig, the shortly awaited construction kick off in Frankfurt am Main, and the rental start of the YOUNIQ property in Karlsruhe.
Construction work on the development project in the Schützenstrasse 2a in Leipzig has commenced punctually with the start of the summer semester. The project, which entails a total rental area of around 2,400 m² and 76 units should be ready as student accommodation already by the end of 2011, according to the current planning status. Together with the apartments at Querstrasse 15/17, which were already completed, and the property at Paul-List-Strasse 24/26, which was already completed in 2009/2010, YOUNIQ AG will be represented in Leipzig with a total of 253 units on completion.
In Frankfurt am Main, a total of 233 student apartments are to be created at Max-Born-Strasse by the 2012/13 winter semester. Construction is expected to start shortly on the 5,330 m² plot of land in the Riedberg city district. The one-room apartments, which average approximately 22 m², will be equipped with high-quality furniture, as well as kitchens and baths. The All-in-rent from EUR 425 per month also comprises all incidental costs, electricity, cable TV, and high-speed Internet connection, which allows students to calculate their costs on a fixed basis.
The YOUNIQ property in the eastern city district of Karlsruhe (Karlsruher Oststadt) is also about to be completed. Rentals have started as a consequence. A total of 370 high-quality student apartments have been created in four construction stages on the approximately 8,500 m² area of land between the Degenfeldstrasse and the Gottesauer Strasse, and in direct proximity to the university. The property, which consists of a total of six buildings, was realised according to designs produced by the well established architectural office of Veit Ruser & Partner.
Rainer Nonnengässer, CEO of YOUNIQ AG, expressed his great pleasure in these positive operating trends as follows: "We have again proved our project management expertise with the progress to schedule of the project in Karlsruhe - which is our largest property for Student Living to date. High demand for our student apartments in Karlsruhe provides evidence of the excellent quality of the location, since student accommodation is in particularly scarce supply there." CFO Dr. Marcel Crommen went on to add: "Important steps for the establishment of the YOUNIQ concept across the whole of Germany have been achieved with the construction start in Leipzig, and the positive trend in Frankfurt am Main. Not least in view of rising student figures, we identify attractive potentials in the student accommodation market, both in Leipzig, where we are already realising our third local property with the apartments in the Schützenstrasse, and in Frankfurt am Main. We aim to consistently exploit this high demand dynamics, and offer further apartments that are perfectly tailored to meet student requirements."
Company profile
YOUNIQ AG
YOUNIQ AG has focused on student accommodation since 2009. The company covers a significant range of the student accommodation value chain - ranging from the purchase of real estate and land, through project development including planning, planning permission procurement and construction, all the way through to commercial and technical management. YOUNIQ has developed into a leading provider for this segment with currently 1,804 high-quality apartments under management or under construction. These properties are located at eight sites in Germany, including Munich, Erlangen, Karlsruhe, Frankfurt am Main and Leipzig. YOUNIQ bundles its many years of experience in the project development and asset management areas for largely residential properties. Drawing on its historic business operations, YOUNIQ AG holds an additional portfolio of 1,049 units that generate a stable rental income stream with a rentable area of more than 79,000 m². YOUNIQ AG (ISIN: DE000A0B7EZ7, German Securities Identification Code/WKN: A0B7EZ) is listed on the Frankfurt Stock Exchange (General Standard).
Further information: www.youniq-group.de
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Contact:
Contact:
Investor Relations
cometis AG
Ulrich Wiehle
Tel.: +49 (0)611 - 205855-11
Fax: +49 (0)611 - 205855-66
E-mail: wiehle@cometis.de
Branche: Real Estate
ISIN: DE000A0B7EZ7
WKN: A0B7EZ
Börsen: Berlin / free trade
Stuttgart / free trade
Düsseldorf / free trade
Frankfurt / regulated dealing/general standard