Wohnbestand Nordenham Varel
Lower Saxony Housing Stock

Successful Revitalisation in Nordenham and Varel

The housing stock in Lower Saxony was acquired by a publicly-listed company together with other properties as part of a portfolio transaction in 2016. The holdings with a total land area of approximately 37,000 m² are located in the two small towns of Nordenham and Varel and had vacancy rates of between 20% and 35% per location when purchased. After extensive renovation of the approximately 250 flats with a floor area of around 15,000 m², the vacancy rate was reduced to less than 5%. Following a nearly 3-year development phase to revitalise the holdings, which came with the valorisation of the district, the properties were successfully sold to a long-term portfolio holder in 2019.

Project Information

Locations

Nordenham
Varel

Status

Renovation Phase/
Vacancy Reduction Completed

2016

Purchase

Around 250

Flats

approx. 37,000 m²

Land Area

approx. 15,000 m²

Floor Area Stock
 

Development Goal

Revitalisation/
District Valorisation
Successfully Implemented

Further Projects in Revitalization