CG sells billion-euro project Freiladebahnhof in Leipzig
CG Group has sold the development site Freiladebahnhof in Leipzig. Housing for about 3,700 people with a sales volume of roughly €900mn is planned on the lot. As the “Leipziger Volkszeitung” (LVZ) reports, CG executive Christoph Gröner has stated that the new owner is Imfarr Beteiligungs GmbH of Vienna. The city appeared surprised about the change of ownership, stating in a release that CG Group “has not satisfied its contractually agreed information obligations toward the administration.” A comprehensive legal review must now be conducted to determine how the already finalized urban development contract applies to the new owner. According to Gröner, the sale included not only the land but also a project with further services yet to be rendered by CG in the future, LVZ further reports. Neither the city nor CG Group provided any further information before the TD Morning News editorial deadline.
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