Europa Capital, the pan-European real estate investment manager, together with its joint venture partner, Bayern Projekt, announce that they have pre-let c. 2,000 sq m of space at the Olympia Business Centre (the “OBC”) in Munich, Germany, to V&K Tailor Made Catering GmBH (“TMC”) for its first restaurant in the city.
TMC, a joint venture between Vermaat Group, the Dutch catering and hospitality business, and the Munich based catering specialists, Käfer, has agreed a 10 year lease. The letting increases the total occupancy to nearly half, with the building due to open later this year.
TMC will operate the OBC’s “Markthalle” (market hall) concept for employees, which has been designed to foster co-eating and co-working, in addition to the building’s conference facilities. The property will also feature a large roof terrace, providing landscaped outdoor space and is targeting LEED Gold and WiredScore Gold certifications on completion of the refurbishment.
Having acquired the c. 38,000 sq m asset in 2017 on behalf of its value-add fund, Europa Fund V, Europa Capital and its joint venture partner have undertaken a comprehensive refurbishment of OBC. The letting to TMC follows additional agreements with Stadtwerke München, the municipal utility company, and the Department of the Bavarian Criminal Police Office, which will occupy c. 10,000 sq m and c. 5,300 sq m respectively.
Located in Munich’s Moosach district, the OBC offers excellent transport links via the U-Bahn and the Georg Brauchle-Ring road.
Source : Europa Capital