Becken buys a nine-storey office building in Munich, located at Nymphenburger Strasse 112. The property provides about 11,600m² of lettable area on two basement floors, seven floors above ground plus a total of 104 parking spots. The corner plot of 4,123m² on Nymphenburger Strasse, a prestigious street, ensures excellent visibility for the property in a renowned and coveted office location. It is conveniently accessible both by public mass transit and by car via the Mittlerer Ring medium ring road.
Becken acquired the property, which is part of the City-West office submarket, for the purpose of starting a comprehensive and sustainable upgrade of the building in accordance with ESG standards no later than 2025. The idea is to reposition it so that it lends itself to either single- or multi-tenant occupancy. Dominik Tenhumberg, the Managing Director of Becken Development GmbH, said: “We are very glad that the acquisition of Nymphenburger Strasse 112 enabled us to secure an existing building whose excellent current condition makes it perfectly suitable for an extensive repositioning effort and for the creation of additional floor space while permitting the creation of highly flexible, high-end modern office units at the same time.”
Given the excellent building fabric, the bulk of the existing building is to be preserved as much as possible and to be integrated in a planned project that would combine the demolition of a minor section with the construction of a new annex. So-called grey energy that was tied up in the building envelope in large quantities during its construction is to be put to further use by repurposing the old building. The modern and sustainable new office units are scheduled to be completed by the end of 2026.
The property development will generally emphasise compliance with the criteria of the Taxonomy Regulation. Dennis Anderson, Head of Acquisition & Project Development at Becken Development GmbH, said: “The acquisition of this standing property illustrates once again how the high-end ESG compliant repositioning approach which includes the retention of grey energy keeps gaining in significance in the project development business. At the same time, this project neatly dovetails with our property development activities elsewhere in Munich, such as the ‘Fabrik’ office development in Obersendling and the ‘Hoch der Isar’ residential construction project.”