News


The VELUM apartment and office block sold

25. August 2009 - Vivico has sold the apartment and office block VELUM to an investor. The building covers an area of approx. 62,400 sq feet and is located in the new city quarter Arnulfpark in Munich. Vivico has thereby concluded another successful project development.

 

The building at Klaus-Mann-Platz 1, which was designed by the well-known architects Bothe Richter Teherani, contains 27 apartments in a 7 storey apartment tower, approx 38,750 sq feet of office and business units and an underground car park with room for 58 vehicles. The building was the first commercial property to be completed by Vivico in 2007 in the Arnulfpark district. All apartments and office units have already been leased out. It has now been sold for a double digit millions.
In 2008 Vivico completed construction of the office building ATMOS, which is located in the direct vicinity of the Velum building and covers an area of approx. 285,250 sq feet. It was sold to Union Investment Real Estate AG in spring 2009. The headquarters of numerous companies are located in the office building ATMOS, including the international pharmaceutical company Bristol-Myers Squibb. Vivico is currently involved in another construction project together with OFB Projektentwicklung, which involves the construction of SKYGARDEN, an office building covering an area of approx. 355,200 sq feet that is located in the direct vicinity of VELUM. The auditing company PricewaterhouseCoopers had already concluded a contract to rent approx 188,400 sq feet of office space before the project was started. This means that around 56% of SKYGARDEN has already been leased out.