Building Permit for an Office and Hotel Project in the Stuttgart Pragsattel Area

AVONIA Real Estate, MERKUR Development Holding, and OSWA Planen und Bauen have received a permit to commence construction of their joint office and hotel complex in Leitzstr. 50-52, Stuttgart. Marcus Hientzsch, CEO of MERKUR remarked, “We are pleased about breaking ground after a lengthy design and approval process.”

Colliers International Stuttgart has been engaged to soon begin leasing this office space, situated adjacent to the Mercedes Bank and Theaterhaus.

A Joint Venture of the three parties acquired this almost 3,000 sqm site in 2016. The plan approves construction of a high-rise hotel with 182 double rooms in Leitzstr. 50, plus offices with roughly 3,400 sqm of leasing space in Leitzstr. 52.

The offices will be in a separate part of the complex of six above-grade floors, each enclosing about 600 sqm of leasing space, which can be split into two leasing zones per floor. A two-level underground parking garage under both parts of the complex will hold 89 vehicles. The entire project consists of approximately 16,000 sqm Gross floor area including the underground garage. Reimund Sigel, CEO of AVONIA says, “We see continuing demand for attractive office space in Stuttgart. Our project will help fill the gap for urgently needed space in this market.”

Demolition of current buildings on the site began a few weeks ago. Groundbreaking can thus begin as soon as we hand this site over to the prime contractor, Baresel, with completion slated for Q3 of 2010.

For the hotel with ten above-grade floors, a long-term lease was executed early on with NOVUM Hospitality of Hamburg, which will operate it under its niu brand as the niu Form Hotel.

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Building permit for “niu” Hotel in Esslingen

AVONIA Real Estate GmbH of Leinfelden-Echterdingen and MERKUR Development Holding GmbH of Rüsselsheim have together been granted a permit to build a hotel under the NOVUM Hospitality brand “niu” in the City of Esslingen. Construction kicks-off in February 2018.

Situated on a roughly 4,000 sqm lot (Weber site), in the Otto-Bayer-Str. 8-10, this JV will put up a new hotel designed by CIP GmbH Architects & Engineers from Stuttgart, with 227 double rooms and 56 parking spaces. Reimund Sigel, CEO of AVONIA Real Estate GmbH said, “We’re really pleased that we now have the permit to commence construction of our planned hotel”. Marcus Hientzsch, CEO of MERKUR Development Holding GmbH added, “Since the current buildings on the site have already been vacated, we can start demolishing them right away”.

The L-shaped structure has a gross floor area of about 7,500 sqm, spread across a ground floor, four upper floors (about 7,000 sqm), and a basement (about 500 sqm) The originally planned fifth upper floor could be eliminated by utilizing the basement instead for the intended purpose. The investment amounts to about 28 million euros, with completion and opening slated for the end of 2019.

NOVUM Hospitality of Hamburg secured this site early on with a leasing contract, and will operate the hotel under the “niu Timber” name. David Etmenan, CEO and owner of NOVUM Hospitality stated, “We’re excited about expanding our partnership with AVONIA and MERKUR, with the best conditions and required expertise in a region that’s lucrative for us”.

The niu Timber hotel is a modern adaptation and interpretation of timber-frame houses typical for the region. It is not designed to be romantic or ordinary, but to instead project a young, urban, and fresh aura. Here, travelers, business guests, and locals will enjoy the charms of half-timbered houses in a contemporary and casual style. Guests will love the modern gadgets, a refined concept for food and beverages enhanced by a regional touch, plus many exciting events – all at fair prices for overnight stays, for a break after work, or for coworking purposes.

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AVONIA and MERKUR are developing a “niu” brand hotel in Esslingen a. N. for roughly 28 million euros

AVONIA Real Estate GmbH of Leinfelden-Echterdingen has joined up with MERKUR Development Holding GmbH of Rüsselsheim to acquire the Weber site in the Otto-Bayer-Str. 8-10 in Esslingen am Neckar. This Esslingen JV, the Otto-Bayer-Str. Grundstücks-GmbH, is in the process of building a new hotel with about 7,000 sqm of above-grade gross floor space, to be commenced as soon as the present buildings have been vacated by early 2018. The investment is about 28 million euros, with completion scheduled in 2019.

The new hotel will be run by the NOVUM Hotel Group of Hamburg under its “niu” brand.

The almost 4,000 sqm site is ideally located for traffic in Oberesslingen, adjoining the inner-city. Plans call for 225 hotel rooms on six floors, and about 60 parking spaces. Reimund Sigel, CEO of AVONIA Real Estate GmbH explains, “We are confident that this is the right site for a hotel, considering its closeness to Messe Stuttgart and the airport, and the rising demand for overnight accommodations”. Marcus Hientzsch, CEO of MERKUR Development Holding GmbH adds, “We plan to apply for a permit by the end of Q2/2017”.

David Etmenan, CEO and owner of the NOVUM Hotel Group explains, “Due to its proximity to the inner-city, the B10 highway, and public transportation, this site is the ideal one for us to achieve sustainability and innovation in an urban context”.

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New hotel and office building project in Stuttgart Pragsattel

On August 3, 2016, the JV comprising AVONIA Real Estate GmbH (Leinfelden-Echterdingen), MERKUR Development Holding GmbH (Rüsselsheim), and OSWA Planen und Bauen GmbH (Ingersheim) acquired the lot at Leitzstr. 52 in Stuttgart’s Pragsattel area. This JV, the Stuttgart Leitzstr. 52 GmbH, plans to put up a highrise hotel and office building with roughly 11,000 sqm of above-grade floor space. The NOVUM Hotel Group of Hamburg has also come on board as a solid partner to manage the hotel under its NOVUM Style Hotels brand.

The application for a building permit will be submitted within weeks. Covering an area of almost 3,000 sqm, the lot is ideally located to handle traffic, right next to the Mercedes Bank and the theater. The investment totals about 36 million euros, with completion planned for 2019. Marcus Hientzsch, CEO of MERKUR Development Holding GmbH clarified, “We are convinced that the mix of 2/3 hotel and 1/3 offices on this sized lot creates an attractive product”.

Over 200 hotel rooms will be spread across 12 floors of this highrise, offering unrivaled views of the adjoining Killesberg area and downtown Stuttgart. David Etmenan, CEO and owner of the NOVUM Hotel Group emphasized, “We were sure of this site right from the start, because of its closeness to the inner-city and accessible location”.

Marketing of the roughly 4,000 sqm of office space should begin by Q4/2016. The offices will be in a separate part of the building complex with six above-grade floors, each enclosing roughly 600 sqm of rental space. A two-level underground parking garage will hold 126 vehicles. Reimund Sigel, CEO of AVONIA Real Estate GmbH says, “In these times of increasing space shortages, we are really pleased to offer connected, modern office space in Stuttgart”.

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