Corporate | 5 October 2015 09:40
DGAP-News: IMMOFINANZ AG / Key word(s): Real Estate/Miscellaneous
2015-10-05 / 09:40
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IMMOFINANZ is continuing the expansion of its standing investment portfolio
on the German market and presents another major office development project
at the Expo Real. In the Düsseldorf Medienhafen, a new headquarters will be
built for trivago, the world's largest online hotel search. This modern
complex will have roughly 26,000 sqm of rentable space in the first
section. The investment costs are estimated at approx. EUR 145 million. By
mid-2018 the office portfolio in Germany will grow to nearly 200,000 sqm
with annual rental income of up to approx. EUR 40 million. The investment
costs for the own developments amount to nearly EUR 650 million. The German
share of the standing investment portfolio will increase from approx. 7.5%
to almost 17% (including logistics) or almost 13% (excluding logistics).
"The trivago corporate headquarters is our fourth development project on
the Düsseldorf market for prime office properties and will raise our
offering of space in this city to roughly 70,000 sqm. As a matter of fact,
the lease with trivago also represents one of the largest single office
rentals in IMMOFINANZ's history", indicated Oliver Schumy, CEO of
IMMOFINANZ. "The trivago building fits perfectly with our strategy and will
be an attractive addition to our impressive list of flagship projects in
North Rhine-Westphalia, which includes the Gerling Quartier in Cologne, the
FLOAT office complex designed by Renzo Piano in Düsseldorf and the largest
cluster project in the expansion of the RWTH Aachen. The 'Big-7' cities in
Germany will also represent a geographical focal point for our future
growth."
IMMOFINANZ's future portfolio in Germany:
Düsseldorf:
* TRIVAGO HEADQUARTERS: approx. 26,000 sqm of rentable office space in the
first section, completion in mid-2018
The new trivago corporate headquarters will be located on the Kesselstrasse
in the Medienhafen, with sop architects responsible for the design. The
six-storey, horizontally structured building will open towards the harbour
basin and create a generous campus with an inviting atmosphere. The first
building section, which has been leased in full to trivago, covers approx.
30,000 sqm (including 26,000 sqm of office space) and 570 parking spaces.
Construction will start in spring 2016, and the first section is scheduled
for completion in mid-2018. The second section can include further
expansion space (up to approx. 16,000 sqm) for trivago and/or other
tenants. The investment costs are expected to total approx. EUR 200
million, including EUR 145 million for the first section.
* FLOAT: approx. 31,000 sqm, completion in Q1 2018
A prime office ensemble in the Medienhafen with six building sections
designed by Pritzker Prize winner Renzo Piano. In addition to office areas
starting on the first floor, the ground floor contains rental space for
showrooms, retail and gastronomy facilities. The planned investments total
approx. EUR 155 million.
* CARLSQUARTIER: approx. 3,800 sqm, completion in Q1 2017
Premium project in the so-called Central Business District containing space
for offices, retail trade and gastronomy plus a two-storey underground
garage for 64 cars. Investment costs of approx. EUR 24 million.
* PANTA RHEI: approx. 9,600 sqm, completed at the beginning of 2014
The Panta Rhei office building at Düsseldorf Airport was developed by
IMMOFINANZ and received LEED Gold certification in February 2015. It has
approx. 9,600 sqm of rentable space and is almost fully occupied. The
investment costs amounted to approx. EUR 27 million.
Cologne:
* GERLING QUARTIER: approx. 75,000 sqm of rentable / saleable space; first
section currently nearing completion, second phase to be completed by the
end of 2017
The mixed use Gerling Quartier comprises approx. 75,000 sqm of rentable /
saleable space (~30,000 sqm of prime apartments for sale, ~45,000 sqm of
commercial space - primarily offices). Construction on the first section
(145 apartments, 25,000 sqm of office space) will be completed shortly. The
second phase is scheduled for completion by the end of 2017, whereby the
investment for the commercial areas totals approx. EUR 200 million.
* HOHENZOLLERNRING: approx. 11,700 sqm, completion at the end of 2017
Refurbishment of an existing building which has been owned by IMMOFINANZ
since 2007 and is located directly at an underground station. Nine stories
are planned for offices, retail areas on the ground floor and first floor,
and an underground garage with roughly 85 parking spaces. The investment
costs total approx. EUR 47 million.
Aachen:
* CLUSTER PRODUKTIONSTECHNIK: approx. 29,000 sqm, completion in Q3 2016
The Cluster Produktionstechnik with roughly 29,000 sqm of rentable space is
the largest technology cluster in the expansion of RWTH
(Rheinisch-Westfälische-Technische Hochschule) Aachen. Plans call for the
construction of up to 19 research clusters on 800,000 sqm and the creation
of one of the largest technology-oriented research landscapes in Europe.
Pre-rental agreements have already been signed for over 50% of the rental
areas in the Cluster Produktionstechnik and, together with the reported
demand, will reach an occupancy level of 80%. The investment costs total
approx. EUR 63 million.
The office projects currently under development in Germany (including the
trivago headquarters, first section) have approx. 145,000 sqm of rentable
space. These areas are expected to generate rental income of up to EUR 34
million per year after completion. Together with the existing office
properties, including the Panta Rhei at Düsseldorf Airport which was
completed last year and is now almost fully rented, rental income from the
German office segment is expected to increase up to EUR 40 million per
year.
On IMMOFINANZ
IMMOFINANZ is a commercial real estate company whose activities are focused
on the retail, office and logistics segments of eight core markets in
Europe: Austria, Germany, Czech Republic, Slovakia, Hungary, Romania,
Poland and Moscow. The core business includes the management and
development of properties. The company has a real estate portfolio of
approx. EUR 6.6 billion that covers more than 440 properties. IMMOFINANZ is
listed on the stock exchanges in Vienna (leading ATX index) and Warsaw.
Further information under: http://www.immofinanz.com
For additional information contact:
Bettina Schragl
Head of Corporate Communications and Investor Relations
IMMOFINANZ
T +43 (0)1 88 090 2290
M +43 (0)699 1685 7290
communications@immofinanz.com
investor@immofinanz.com
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Language: English
Company: IMMOFINANZ AG
Wienerbergstraße 11
1100 Wien
Austria
Phone: +43 (0) 1 88090 - 2291
Fax: +43 (0) 1 88090 - 8291
E-mail: investor@immofinanz.com
Internet: http://www.immofinanz.com
ISIN: AT0000809058
WKN: 911064
Listed: Regulated Unofficial Market in Berlin, Munich, Stuttgart;
Open Market in Frankfurt ; Wien (Amtlicher Handel /
Official Market)
End of News DGAP News Service
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399839 2015-10-05