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Fraport and project developer GBI to implement 142 apartments for business travellers plus offices in the Gateway Gardens quarter at Frankfurt Airport

Joint venture 'Coleman 10' planning completion of the  mixed-use property by spring 2023 / Location with ideal infrastructure / Fast connection to the main railway station through new S-Bahn station / SMARTments business accommodation in demand also in the corona crisis / Investor interest remains high  

A joint venture of Fraport Casa Commercial GmbH and the project developer GBI is planning a mixed-use property directly at Frankfurt Airport in the Gateway Gardens quarter. The mixed-use project will include office space and around 142 serviced apartments in a SMARTments business, which GBI will operate itself. A total of 11,600 square metres of Gross Floor Area (GFA) will be spread across both types of use on Bessie Coleman Strasse. Start of construction on the 2,584 square metre site has been scheduled by the project company Coleman 10 GmbH & Co. KG (Coleman 10) for spring next year, with completion expected two years later.  

The excellent infrastructure and perfect transport connections make the location interesting for many different investors and users," explains Jörg Guderian, Managing Director of Fraport Casa Commercial GmbH. This is also indicated, for example, by the relocation of the Frankfurt Siemens site in the direction of the Airport announced for 2022. Jörg Guderian comments: "In addition to office space, overnight accommodation for companies over several weeks or months is an important aspect of modern infrastructure in such an area. For example, external consultants or project staff could stay overnight in the planned apartments, but also newly recruited employees who have not yet found their own home in the first few weeks after changing jobs. Jörg Guderian adds: "This makes the SMARTments business offer an ideal complement to the Gateway Gardens neighbourhood".

Encouraging market analyses despite Covid-19
The exceptional situation of the Corona crisis does not change the long-term positive assessment of the Gateway Gardens location for the planned dual uses. "Our market analyses and company surveys, which were renewed after the beginning of the pandemic, still come to the conclusion that strong demand can be expected at this location in the medium and long term," says Clemens Jung, member of the GBI Holding AG Management Board. The two Managing Directors of the Coleman 10 project company, Messrs Jung and Guderian, emphasise: "We are already in the final stages of coordination with end investors. The interest in buying this compelling real estate project has not changed due to the Corona crisis. This shows how much demand there is for SMARTments business in general and the airport location in particular".

The continued high level of investor attention comes as no surprise to Clemens Jung: "The national and international transport connections here are better than at any other location in Germany. The most important German airport is the ideal starting point for trips abroad. All national destinations can also be reached quickly via the long-distance train station. The central location within Germany as well as the immediate vicinity of the Frankfurter interchange, where the major A3 and A5 motorways meet, makes it easy, too, to reach many destinations individually.

Thanks to the new S-Bahn station, the regional transport network has been optimal since the turn of the year. Now commuters using public transport to Frankfurt Central Station need only ten instead of the previous 30 minutes. The connecting train runs every 15 minutes. In addition, not only the city of Frankfurt but also the cities of Offenbach and Wiesbaden can be reached from Gateway Gardens quickly and without changing trains. The Airport is therefore also an excellent starting point for all important locations in the entire Rhine-Main region.

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