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HOCHTIEF Projektentwicklung sells office building mitteWest in Osnabrück

10-16-2012 04:23 PM CET | Industry, Real Estate & Construction

Press release from: HOCHTIEF Solutions AG

office building mitteWest in Osnabrück

office building mitteWest in Osnabrück

Private investor secures himself completely rented property—Office and commercial building to be completed in spring 2013

HOCHTIEF Projektentwicklung has sold the office and commercial building in Osnabrück’s future urban quarter “mitteWest” to a private investor. The purchase price was agreed to be kept confidential. The 1,920 square meters of rental space have already been fully let. The premises are scheduled to be ready for the tenants to move in in April 2013.

The main tenants in the mitteWest office building are law office SCHINDHELM and accountants and tax consultancy FALK & Co. On around 160 square meters on the ground floor, hearing aids retailer Gerland Hörgeräte will open a new outlet. The mitteWest urban quarter is being developed on a roughly 12,900-square-meter section of the municipal utility’s former bus depot and of chemicals and plastics manufacturer Hagedorn. From 2015 onwards, the mitteWest urban quarter is planned to link Osnabrück’s districts Katharinenviertel and Westerberg—the four-story office and commercial building on the corner of Lotter Strasse/Am Kirchenkamp will be the first property to be completed. In addition to almost 5,000 square meters of offices, the plans provide for some 12,500 square meters for apartments, and for an underground car park for 98 vehicles. In addition, the quarter will feature a café with a good 100 square meters as well as 170 parking spaces in a public garage. For this purpose, an existing building will be expanded to approximately 4,500 square meters, and just under 13,000 square meters will be newly built. The complete urban quarter will be supplied with local district heat from its own energy center via a combined heat and power plant in future.

HOCHTIEF is one of the leading international providers of construction-related services. With more than 80,000 employees and a sales volume of EUR 23.28 billion in FY 2011, the company is represented in all the world‘s major markets. With its core competencies in development, building and operation, the Group delivers services for the entire life cycle of infrastructure projects, real estate and facilities. The focus of the related business activities is on four strategic areas: energy infrastructure, transportation infrastructure, major cities, and resources. With its subsidiary Leighton (HOCHTIEF share around 54 percent), the Group is market leader in Australia. In the USA, the biggest construction market in the world, HOCHTIEF is the No. 1 general builder via its subsidiary Turner and, with Group company Flatiron, ranks among the most important players in the field of transportation infrastructure construction. Because of its engagement for sustainability, HOCHTIEF has been listed in the Dow Jones Sustainability Indexes since 2006.

HOCHTIEF Solutions consolidates the core business of the HOCHTIEF Group in Europe and in selected regions worldwide. The company plans, develops, builds, operates and manages real estate and infrastructure facilities. HOCHTIEF Solutions is the management company of the Group’s Europe division which employed around 15,000 people around the globe in fiscal 2011. In many regions and segments, the company is a market and innovation leader.

HOCHTIEF Projektentwicklung is a fully owned subsidiary of HOCHTIEF and organizationally related to HOCHTIEF Solutions. Since 1991 the company has been developing, realizing and marketing real estate projects in Germany and abroad and is considered Germany’s leading inner-city developer. Its core business comprises office buildings in central business districts and areas within easy reach of city centers. It also focuses on retail properties, residential properties and accommodation for senior citizens, and the development of entire urban quarters. Hotels, distribution centers and special-purpose properties are also among the product market segments which the company addresses. HOCHTIEF Projektentwicklung does not build up any property portfolio of its own but operates as an “interim investor” with the goal of selling its projects to a final investor as swiftly as possible.

Gabriele Stegers
Head of Communications Real Estate Solutions
Alfredstrasse 236
45133 Essen
Tel.: +49 201 824-2282
Fax:+49 201 824-1728

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