Real Estate

CONVERTING OFFICE TO APARTMENT

OFFICE-TO-RESIDENTIAL CHECK

From stranded asset to dream home – the potential is there. 

While living space is scarce in many cities, numerous office spaces remain vacant. Converting offices to apartments has enormous potential. In Germany's top seven cities, around 6.7 percent of office space is currently unused. This corresponds to up to 152,000 potential new apartments nationwide. There is also much to be said for this transformation from an ecological and urban development perspective.

Have the conversion of your office space checked now

LOCATION, LOCATION, THE CRUCIAL QUESTION: IS CONVERTING WORTHWHILE?

Converting office space into residential space is complex. Legal framework conditions, technical requirements, the structural condition, and new usage requirements must be combined with economic feasibility. A key success factor is the location.

FRAMEWORK CONDITIONS

- Unclear approval situations in planning law
- Conversion requires building permit
- “Construction turbo” design
- Possible loss of portfolio protection
TECHNICAL REQUIREMENTS

- Risk of unforeseeable circumstances
- Sound and fire protection requirements
- Changed payloads (statics)
- Reusability of building services
- Renovation backlog
ECONOMIC VIABILITY

- Conversion costs
- Market suitability
- Book value losses
- Space efficiency
- Increased risk costs

Despite possible hurdles, it is still clear that the market needs short- and medium-term solutions for empty office properties. At the same time, the “construction turbo” promises new opportunities for existing buildings, to the benefit of residential construction.

IN DEMAND: NEW MARKETABLE USAGE CONCEPTS FOR THE INDIVIDUAL PROPERTY AND LOCATION.

Are you a property owner? Then you may be faced with the problem of leases not being renewed as there is no demand for your space. That's why you need new strategies and (re)use options for your assets.

Are you a project developer? Then you might consider specifically purchasing vacant office properties to realize new residential or hotel concepts through changes in use.

But existing properties are complex and individual, and project ideas are diverse. Making the right decision requires sound information about opportunities, risks, and implementation costs. What is a possible use? Is the investment profitable? What measures are necessary?

OUR ANSWER: THE OFFICE-TO-RESIDENTIAL CHECK

Our interdisciplinary team of experts in real estate, planning, engineering, construction, and marketing analyzes your property holistically – quickly, concisely, and thoroughly.

Our service promise: we offer you an integrated solution from a single source

Identify usage potential: location and property analysis including planning feasibility
Think and act economically: robust usage concept based on the design-to-cost principle, including technical and economic evaluation
Understanding building and planning law: examination of building law options and approval eligibility

Your result: a reliable basis for deciding on your potential investment.

Interested? Then have the potential of your property examined now.

PROPERTY CHECK

We check whether residential or operator housing is permissible at the location and what building law options exist.
MARKET CHECK

We analyze the demand for housing types at the micro-location, how the competition behaves, and which (end) users are potential customers.
BUILDING ANALYSIS

We examine the substance, the floor plans, and the technology for residential suitability and look at what opportunities and risks are inherent in the building.
USAGE SCENARIOS 

We define cost targets as a conversion budget so we can then develop suitable residential concepts in line with the design-to-cost principle: classic, micro, serviced apartments, or hybrid models.
COST FRAMEWORK

We determine the conversion costs for the scenario with the best cost-benefit ratio and formulate the right usage requirements.
PROFITABILITY CALCULATION

Investments are compared with rental income, market values, and return targets. This creates a solid basis for the decision: Will converting pay off? If not…
ALTERNATIVE SCENARIO

… we identify alternative scenarios such as repositioning, demolition, or mixed-use concepts.

YOUR BENEFITS WITH US – SECURE TODAY, UNLEASH POTENTIAL TOMORROW

Fast results: in an average of four weeks, you will know what is feasible and makes sense.
Low resource expenditure: instead of many interfaces and service providers, you’ll have a holistic solution, an integrated process, and flexible service extension.
Reduced complexity: from construction costs to renovation measures to exit strategies – one contact for all your questions.
Planning validation: in-house planning expertise and reliable cost benchmarks mean you receive higher reliability – both technically and economically.
Connectivity for your goals: whether you develop or sell yourself, we implement your project consistently, from planning to marketing.

IF RESIDENTIAL DOESN'T WORK, WE'LL FIND AN ALTERNATIVE.

Not every property is suitable for residential purposes. Our office-to-residential check indicates this too. In such cases, we develop alternative scenarios – from light refurbishment and densification to demolition and new construction with different uses, such as mixed-use or life science.

Is office-to-residential worthwhile for you? We'll find out for you – the office-to-residential check is worthwhile in any case. 