Greyfield Group acquired the former administrative building at Essener Strasse 244 from thyssenkrupp Steel Europe AG. The 9,348 sq m site is planned to provide 5,485 sq m of living space across 156 publicly subsidised units for students and trainees. The scheme will offer different apartment sizes and reuse the existing office structure rather than develop a new greenfield site.

The transaction follows Greyfield's focus on transforming obsolete commercial property into lower‑carbon urban housing.

Strategic context

For Greyfield, the acquisition adds a university‑market conversion to its brown‑to‑green strategy and creates an affordable product that can serve both students and vocational trainees.

For thyssenkrupp, the disposal releases a non‑core office property for a new residential use, while the subsidised model responds to demand for lower‑cost accommodation in Bochum.

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