Europe: Tech-enabled serviced apartment operator limehome is planning to convert 3,000 apartments from office and retail space over the next two years.
In the past year, limehome has signed projects in eight countries which will see the conversion of nearly 35,000 square metres of commercial space into apartments. It takes the company’s total conversion pipeline to 3,300 apartments.
In Bremen, limehome is planning one of its largest locations with 167 apartments spread across eight floors. The office site is located along the Wester Promenade and will be converted by dt+p Architekten.
The property is scheduled for completion in 2026 and marks the third location in Bremen for the group.
Elsewhere in Europe, limehome has also signed office conversion projects in Salerno and Milan which are expected to open in 2026 and 2027 respectively.
An additional 3,000 converted apartments are planned until 2027.
Josef Vollmayr, co-CEO and co-founder of limehome, said: “Converting existing buildings is becoming the project development of the moment. The property sector needs an alternative to energy-intensive new builds. We believe in the long-term potential of conversions and have therefore been focussing on them for a long time. By 2027, we expect to add a further 3,000 apartments to our project pipeline through conversions.
“Tourism has a large carbon footprint, and not just because of the relevant proportion of air travel; accommodation accounts for around a fifth of industry emissions. Our digital operating system, which does not require on-site staff, significantly reduces the carbon emissions of our apartments compared to conventional hotel rooms. We therefore offer one of the most sustainable hospitality concepts in Europe,” he added.
Daniel Hermann, chief growth officer at limehome, said: “Conversions are a key driver of our growth strategy. We now have relevant project experience in ten European countries. Our combination of efficiency, high yields, digital and sustainable operations makes us an attractive partner for property owners and project developers across Europe. Currently, we are looking for new projects in more than 12 European markets.”
