One of the most spectacular new construction projects in the Rhine-Main region has been acquired by Commerz Real for its open-ended real estate fund hausInvest in the very heart of Frankfurt am Main. The contractual parties have agreed to maintain confidentiality with regard to the purchase price. The property is to be constructed on the 4,000 m² plot of land covered by the former AfE area at Senckenberganlage 15. The idea to build a 140 m² high hotel and residential tower with a total floor area of 49,700 m² was developed together with Groß & Partner. The Spanish hotel group Meliá has concluded a long-term lease agreement for a 4-star hotel on the lower storeys up to the 15th floor. As many as 300 apartments with an outstanding panoramic view over Frankfurt, the Taunus hills and the remainder of the Rhine-Main region are to occupy floors 16 to 40.
Until February 2014 the construction land was the site of the 112 m high AfE tower, which was part of Frankfurt’s Goethe University. The area is now being developed into the Culture Campus; the south-eastern section – in the immediate vicinity of the trade fair grounds, the Goethe University, the Senckenberg Museum and the city’s West End – is to accommodate the tower. The building will be erected in cooperation with the initiator of the project, Groß & Partner Grundstücksentwicklungsgesellschaft mbH, which is also assuming the project management. Construction of the tower, for which an architectural competition is to start shortly, is to commence in 2016. Completion is scheduled for the beginning of 2019.
With the Meliá brand a top-class hotel concept in an urban-modern style is enriching Frankfurt’s hotel sector. In addition to 290 rooms, the hotel offers underground parking, state-of-the-art conference and wellness facilities, as well as a “Sky Bar” on the 15th floor. The lease agreement has a term of 25 years with an option for a further five years.
Following completion the some 300 apartments will rank among the most coveted in the metropolis on the river Main. In addition to a high-class fit-out and a panoramic view closed to further construction, the residents will profit from the inner-city location and the exclusive services offered by the hotel (e.g. in the wellness area). Furthermore, they will have access to some 230 parking spaces in the underground garage.
Source: Commerz Real
