The development arm of Frankfurt-listed Patrizia Immobilien has purchased two plots totalling 7,500 m2 at the Belsenpark development project in the Oberkassel district of Dusseldorf. The vendor is Vivico Real Estate, a subsidiary of Austrian property company CA Immo. Both sides agreed not to disclose the purchase price.

The total project volume for the new building will amount to EUR 60 mln.

Development plans submitted for the plots envisage the construction of a U-shaped building on each site. Together, the two buildings will incorporate a total of 140 high-end residential units along with a private underground car park. Belsenpark is one of Düsseldorf's leading development projects. In addition to 50,000 m2 of office space and a park extending over 20,000 m2, some 550 residential units are due to be built on the site of the old Oberkassel goods railway station.