German investor Estavis said on Monday that it has acquired the listed buildings of what was once the largest brewery in Europe, located in Berlin's Friedrichshain district, from an unnamed seller. The company plans to redevelop and extend the landmark complex which was built in the early 1880s. The investment volume is expected to amount to EUR 43 mln.

On completion, the scheme will be expanded by 5,500 m2 to offer a total of nearly 14,000 m2. It will accommodate 152 residential units as well as nine commercial shops.

'The project is part of our plan to continue expanding our supply in high-end residential real estate in the upper price segment,' said chairmanCEO Florian Lanz. The development is Estavis' second involving a protected monument after the Glanzfilmfabrik project in Köpenick.

Lanz added that the company is planning 'further purchases of large brownfield properties in the future'.