Munich's most exclusive noble quarter celebrates topping-out ceremony
Press Release
Lenbach Gardens with luxurious hotel, doorman apartments, and premium offices already 80% sold.
Munich's most exclusive noble quarter celebrates topping-out ceremony
On Tuesday 23 May 2006 in the presence of representatives of the Bavarian state government, the state capital Munich, and Sir Rocco Forte, the festive "Richtkranz" was raised over the Lenbach Gardens. Along with investors and the future residents the developers celebrated an additional successful stage on the road to completion of one of the most extraordinary, spectacular, and innovative real-estate project in Munich.
In the best down-town location of Munich a top-class noble quarter is being developed right next to the old botanic garden on 22,000 m2 of former university grounds with a market volume of ca. 400 million euro. The Lenbach Gardens include a 5-star plus luxury hotel, ca. 100 condos of the extra class on ca. 24,000 m2 living space – partially with exclusive doorman and hotel service provided by the next-door "Rocco Forte Hotel“ – and ca. 23,000 m2 high-spec office space for head offices.
The spectrum of apartments is very flexible and ranges from 100 m2 city condo, 180 - 350 m2 lofts to the 500 m2 Penthouse Maisonette with sub-let apartment and Belvedere roof terrace. The absolute top quality of the next-door "Rocco Forte Hotel" is at the same time benchmark for the living and work offering in the entire quarter of the Lenbach Gardens. This applies both to the luxurious building and furbishing quality as well as the comprehensive service offering for the residents. The prices of the apartments vary between 6,000 and 11,000 euro per m2 living space. The finalization of the last apartments and thus of the entire quarter is planned for the summer of 2007.
FRANKONIA Eurobau Maxviertel GmbH is principal developer. Apart from FRANKONIA Eurobau AG that has developed the overall project and is responsible for implementation and marketing, co-partners include WP Immobilien Holding GmbH of PROVINZIAL Versicherungen, Westdeutsche ImmobilienBank, SV Sparkassen-Versicherung Gebäudeversicherung AG and VGH Beteiligungs GmbH.
The high attractiveness and top class of the overall project is also made evident that the entire hotel and office areas of the quarter were already leased to first addresses before construction even started.
With the hotel lease to the international luxury hotel chain Sir Rocco Forte & Family Hotels, Munich for the first time will have a luxury accommodation of the 5-star plus category. "Upon completion the hotel will be the most stylish hotel in the best location in Munich", according to Sir Rocco Forte.
Lessees of the entire office area are two renowned corporations, for which - next to the exclusivity and central location - the absolute premium class of the overall concept and execution quality of the Lenbach Gardens were decisive for their decision to lease. One of the largest international business consulting offices will co-use the office house adjacent to the Rocco Forte Hotel as new head office, allowing them to make use of numerous hotel facilities and service offerings of the top quality category. With the international lifestyle corporation Condé Nast Publications another prominent and renowned company has decided on the Lenbach Gardens as new company domicile.
Top location, premium quality of the real estate, and first-class selection of lessees and leases also have convinced IMMOFINANZ Immobilien Anlagen. The largest real-estate company in the German-speaking world has acquired the hotel and all office buildings for over 200 million euro for the portfolio of their regional holding IMMOWEST and designates the Lenbach Gardens as their "new flagship in the German market".
From day one the Lenbach Gardens have been developed as product of the absolute premium class. The offer and its conceptualization are oriented towards the needs of a clientele with the highest and at the same time personalized demands in location quality, living comfort, and service requirements. "Luxury condos such as the Lenbach Gardens require a highly personalized and intensive consulting and care for the prospect buyer to jointly determine the planning and furnishing details for his or her custom-tailored dream apartment. And: apartments such as these virtually find their buyers themselves. A large part of the well-to-do buyers and prospect approached us after friends are acquaintances recommended us. As a result, we can need not engage in public advertising or employ realtors. The continuously strong demand and the already achieved sale and reservation ration confirm both our product philosophy and our sales strategy. Wit the agreed sale of an apartment at a sales price of more than 5 million euro the Lenbach Gardens not only belong to the finest but also to the most valuable properties in Munich.“, according to Dipl. Ing. Uwe Schmitz, chairman of the board at FRANKONIA Eurobau AG.
Contact: Uwe Schmitz
Chairman of the board FRANKONIA Eurobau AG
Hübeck 5 - 41334 Nettetal
Phone: (0 21 58) 91 53 - 33 - Fax: (0 21 58) 8477
Email: u.schmitz@frankonia-nettetal.de
www.frankonia-nettetal.de