KGAL concludes largest single letting in Munich with BSH

KGAL concludes largest single letting in Munich with BSH

KGAL and BSH Hausgeräte GmbH have signed a new lease agreement ahead of schedule for the modern “Aviva” office complex in Munich’s Neuperlach district. With a gross floor area of around 60,000 square metres, this is the largest single letting in Munich for more than five years. BSH Hausgeräte GmbH will continue to use the property as its corporate headquarters in the future as part of a green lease lease agreement.

KGAL has been responsible for the asset management of the “Aviva” office complex, in which it also holds a minority stake, for many years. Kiwoon Asset Management, the South Korean owner of “Aviva”, had entrusted KGAL, as an expert on the property and real estate market, with the lease negotiations.

The new lease agreement has a very long term in the interests of the owner and tenant and is geared towards sustainable management of the property. “With the successful new lease, we are ensuring the sustainable use and thus also the long-term profitability of the property,” says Dr. Christian Nieraad, Head of Transaction Management Real Estate at KGAL.

The office complex, built in 2003 with excellent public transport connections, is located in Neuperlach, in the southeast of Munich. The building ensemble, consisting of three buildings, has been the headquarters of BSH since 2003 and will bring together other divisions at the location in Carl-Wery-Straße in the future. At the same time, the location is to be upgraded to an innovative meeting place in the coming years, which, in addition to offices, also includes space for customer visits, brand and product exhibitions, training courses and events.

“We will create an inspiring and future-oriented campus that inspires customers and consumers, is a figurehead and source of inspiration for our brands, products and services, promotes innovation and quality awareness, creates flexible usage options as a workplace of the future and thus strengthens us as Team BSH. I am very pleased that we are actively shaping the future with this location and strengthening our claim as a market designer,” says Dr. Matthias Metz, CEO and Chairman of the Management Board of BSH Hausgeräte GmbH.

In 2017, KGAL sold the office complex from one of its special real estate funds to Kiwoon Asset Management from South Korea and has since held a minority stake in the property.