WGF AG to develop LEED Gold standard office building in Düsseldorf (DE)

In September 2011 WGF AG acquired an office building in the Kennedydamm office business district in Düsseldorf. The property located at 44 Rolandstrasse measures 10,700 m² and has been sold by a real estate fund. From January 2012, following the departure of the main tenant Axa, WGF AG will fully redevelop the building, which was built in the 1970s, and convert it by April 2013 into modern and efficient office premises, which will be named FORTYFOUR.

The renowned Milan designer and architect Antonio Citterio will be responsible for the design. Citterio's design will apply the LEED standards (Leadership in Energy and Environmental Design) by the US Green Building Council. The standard relates to the sustainability of the location concept, water and energy usage, building materials and the extent to which the interior of the building has been constructed in an environmentally-friendly way. The aim is to achieve the LEED Gold standard for FORTYFOUR, making it one of the first properties to achieve this certification in Düsseldorf.

Planning and construction work will be carried out by WGF AG's subsidiary Ilse Bau und Planung GmbH, which specializes in development projects.

Martin Rühlemann, Head of Property Development with WGF AG, explains: "The high standard of the building will meet the future requirements of the most discerning occupiers. The office floors are air-conditioned and are especially attractive due to a generous ceiling height of 3.25m." The building also has a cafeteria and 190 parking spaces.

Letting projections are very positive due to the high demand for sustainable office space and the highly competitive rental rate for the Kennedydamm office district. The rent for the property will be €14.50 to €16.50 per m² and month. The Kennedydamm office district is one of the most attractive office locations in Düsseldorf and companies will find its proximity to the airport, exhibition center and city center attractive. Top rents for office in Dusseldorf are set between €20 and €23 per m².

Companies such as L'Oréal, IKB Deutsche Industriebank and Deloitte & Touche occupy office space in this district. Rolandstrasse is easy to reach by public transport.

Real estate advisor Savills Düsseldorf will act as lead agent and will be responsible for the letting of FORTYFOUR.

Source: WGF AG

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