AXA IM Alts has received planning consent and launched the construction of ‘The Stack,’ a c. 16,000 sqm timber hybrid office asset in the centre of Munich.
The Stack, which is expected to complete by the end of 2025, will be developed in partnership with Accumulata. The project will deliver 6 floors of high-quality office space, alongside three basement floors, a ground floor and several accompanying amenities on the corner of Schwanthalerstraße and Goethestraße in the centre of Munich. The scheme, designed by Wilmotte & Associés Architectes, aims to achieve market-leading environmental credentials, combining a sustainably sourced timber hybrid construction method with green energy technology and biophilic design features to reduce energy demand considerably compared to a typical new-build development. Additional smart building technology will regulate indoor air quality and enable highly efficient local climate and lighting control, supporting enhanced workplace productivity and wellbeing.
Just a five-minute walk from Munich Central Station and within easy reach of the city’s international airport, The Stack will offer occupiers strong connectivity. The Stack occupies a prominent position in Munich’s central business district, where demand for modern, sustainable office space far exceeds current levels of supply, which is expected to be further exacerbated by a limited development pipeline. Munich’s increasingly prominent role in the German economy, alongside the improved connectivity of the city resulting from significant infrastructure upgrades, supports sustained demand.
This transaction forms part of AXA IM Alts’ ongoing strategy to undertake large-scale and high-profile developments in leading cities across Europe, building out its portfolio of core assets.
AXA IM Alts has completed over 330 development projects with a total value of €21 billion across Europe since 2000, and currently has a further €8 billion of projects underway2 .
Source : Company