AXA Investment Managers – Real Assets, acting on behalf of clients, announces that it has launched the construction of The Mark, its flagship new office development in Munich, Germany. FOM Real Estate GmbH Heidelberg has been mandated as delegated development partner, with delivery expected in 2022.
The MARK will offer c.55,000 sqm of office space spread across two buildings of up to eight storeys and centred around a landscaped forecourt and three courtyards. The striking property comprises a modern “folded” façade structure, with floor to ceiling windows throughout and access to several roof terraces offering breath-taking views of the city. Each level includes flexible floor plates, allowing for the creation of highly individualised workspaces to appeal to a diversified tenant base. In keeping with its emphasis on wellness, the property will include a plethora of green spaces and catering facilities which will be available throughout the building. Tenants will also benefit from a 550-space underground carpark, alongside storage for 280 bicycles, complete with an e-bike rental station and e-charging stations.
The ambitious development project was commenced by AXA IM – Real Assets in March 2018 with the site’s acquisition. Designed by KSP Jürgen Engel Architekten, the building concept responds directly to the major shifts in the way people work and live, brought about by the cultural, demographic and technological advances in the world of work. In alignment with AXA IM – Real Assets’ Responsible Investment and ESG Strategy, sustainability has been a key consideration throughout the development process, and the building has been designed to achieve a LEED Gold rating, reflecting high energy and environmental credentials.
Strategically located in West Munich, between the Core S-Bahn Route and Landsberger Straße, The MARK is easily accessible via car and public transport, while a new bicycle path connects the building to the city centre. The area is well serviced by a range of shops and amenities.
This transaction forms part of AXA IM – Real Assets’ ongoing strategy to undertake large-scale and high-profile developments in leading cities across Europe, building out its portfolio of core assets. AXA IM – Real Assets has completed over 284 development projects with a total value of €15.2 billion across Europe since 2000, and currently has a further c. €9.3 billion of projects underway.( As of 31 December 2019).
Source : Company