DGAP-News: IMMOFINANZ Group completes all buildings shells in the first stage of the Gerling Quartier
(firmenpresse) - DGAP-News: IMMOFINANZ AG / Key word(s): Real Estate/Miscellaneous
IMMOFINANZ Group completes all buildings shells in the first stage of
the Gerling Quartier
28.10.2013 / 14:38
---------------------------------------------------------------------
In the largest own development project currently under realisation by
IMMOFINANZ Group, the Gerling Quartier in Cologne, all ten building shells
in the first stage of construction have now been completed. This
achievement was celebrated today with a topping out ceremony. The
completion of this first stage is scheduled for the end of 2014. The second
stage covers five buildings and should open in mid-2016. The total
investment in the Gerling Quartier will amount to approx. EUR 400 million,
and the costs to completion are estimated at approx. EUR 110 million.
'Work has been proceeding at full speed since the full takeover of the
Gerling Quartier by IMMOFINANZ Group in September 2012. The first
apartments will be transferred to the new owners in early 2014 and the
office tenants will be able to move in later that spring', indicated Eduard
Zehetner, CEO of IMMOFINANZ Group. 'This new 'Veedel' will become a
district for the residents of Cologne. We have already sold nearly half of
the 144 apartments in the first section - for the most part to
owner-occupiers from Cologne and the surrounding area.'
At the ceremony, Cologne's Lord Mayor Jürgen Roters underscored the
significance of this new urban quarter: 'As one of the largest inner city
development projects in Germany, the Gerling Quartier has great importance
for Cologne. The fusion of historical, landmarked buildings and modern
architecture into a new style makes the Gerling Quartier unique. I am
certain this location will become one of the top addresses in our city.'
Prof. Johannes Kister of the architectural firm kister scheithauer gross
and master planner of the Gerling Quartier commented: 'The cubatures that
can be seen today fully meet the expectations for the master plan's urban
development concepts. The facades that are now visible reflect the high
level of the existing buildings and therefore meet the aspired quality
standards.'
The construction site currently involves work on ten buildings (landmarked
and new) at the same time by nearly 280 people. The number of workers will
increase to substantially more than 400 over the coming months as the focus
shifts to the interior construction. The transformation of this former
headquarters of the Gerling insurance corporation with its landmarked
buildings not only represents an architectonic challenge, but also requires
top structural performance. For example: the Gerling Tower, a roughly
60-metre high landmark for the area, was stripped down to its steel
skeleton before the start of reconstruction. The future condominium owners
will be able, among others, to enjoy an unobstructed view of the Cologne
Cathedral.
The Gerling Quartier will have approx. 75,000 sqm of usable space after
construction is completed. The first stage covers approx. 20,000 sqm each
of prime residential and office space. The living concepts range from
penthouses to lofts and townhouse apartments. Some of the buildings will be
renamed: the apartments will be located in the Gerling House, Colonia
House, Magnus House, the Agrippina Palace, the Gereon Lofts and the von
Werth House, while the offices will be situated in the Torhaus, Atrium,
Lambertina Höfen, Carentinus Garden and Gereons Carée.
Highlights:
- Third largest inner city quarter development project in Germany
- Realisation of a new residential concept
- Quiet inner city location with excellent infrastructure
- New construction quality in historical building substance
- New construction as complementary architectural highlights
- Park-like open areas for rest and relaxation
- DGNB certification for commercial properties
- Substantial freedom of design through variable floor plans
- Large offering of parking spaces in the Quartier
On IMMOFINANZ Group
IMMOFINANZ Group is one of the leading listed property investors and
developers in Europe. The company is included in the leading ATX index of
the Vienna Stock Exchange and also trades on the Warsaw Stock Exchange.
Since its founding in 1990, the company has compiled a high-quality
property portfolio that now comprises more than 1,700 investment properties
with a carrying amount of approx. EUR 10.4 billion. As a 'real estate
machine' the company concentrates on linking its three core business areas:
the development of sustainable, specially designed prime properties in
premium locations, the professional management of these properties and
cycle-optimised sales. IMMOFINANZ Group concentrates its activities in the
retail, office, logistics and residential segments of eight regional core
markets: Austria, Germany, Czech Republic, Slovakia, Hungary, Romania,
Poland and Russia.
Further information under http://www.immofinanz.com /
http://blog.immofinanz.com / http://properties.immofinanz.com
For additional information contact:
MEDIA INQUIRIES
Bettina Schragl
Head of Corporate Communications | Press Spokesperson
IMMOFINANZ Group
T +43 (0)1 88 090 2290
M +43 (0)699 1685 7290
communications(at)immofinanz.com
INVESTOR RELATIONS
Stefan Schönauer
Head of Corporate Finance&Investor Relations
IMMOFINANZ Group
T +43 (0)1 88 090 2312
M +43 (0)699 1685 7312
investor(at)immofinanz.com
End of Corporate News
---------------------------------------------------------------------
28.10.2013 Dissemination of a Corporate News, transmitted by DGAP - a
company of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
---------------------------------------------------------------------
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(at)immofinanz.com
Internet: http://www.immofinanz.com
ISIN: AT0000809058
WKN: 911064
Listed: Freiverkehr in Berlin, München, Stuttgart; Frankfurt in
Open Market ; Wien (Amtlicher Handel / Official Market)
End of News DGAP News-Service
---------------------------------------------------------------------
236464 28.10.2013
Themen in dieser Pressemitteilung:
Unternehmensinformation / Kurzprofil:
Datum: 28.10.2013 - 14:38 Uhr
Sprache: Deutsch
News-ID 309886
Anzahl Zeichen: 7772
contact information:
Kategorie:
Business News
Diese Pressemitteilung wurde bisher 287 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"DGAP-News: IMMOFINANZ Group completes all buildings shells in the first stage of the Gerling Quartier"
steht unter der journalistisch-redaktionellen Verantwortung von
IMMOFINANZ AG (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
