ABG Real Estate Group and HanseMerkur Grundvermögen AG are commencing construction work on the “Palais Rossmarkt” in Frankfurt. Behind the listed sandstone façade of the historic building at Roßmarkt 18, a modern new development is taking shape, offering around 15,700 square metres of office and retail space. The investment volume amounts to around 250 million euros. The financing partners are DZ Hyp and Taunus Sparkasse. Completion is scheduled for 2030. Adolph Lupp GmbH & Co. KG, as part of a joint venture with Medicke GmbH, has been appointed as the main contractor to carry out the construction work.
Historic façade, modern new build
The ‘Palais Rossmarkt’, situated between the banking district, Goetheplatz and Hauptwache, was built in the late Baroque and early Classical styles and has been a defining feature of the cityscape in the heart of Frankfurt for more than 120 years. The planned redevelopment combines the preservation of the listed architecture of this historic banking district with the requirements of a modern office and commercial building. The planning was carried out in close consultation with the City of Frankfurt and the Hessian State Office for the Preservation of Historical Monuments.
The architectural design is the work of Staab Architekten, a practice with extensive experience in working with listed buildings. The concept involves the preservation and careful restoration of the historic sandstone façade. Behind this, a new building is being constructed with flexible floor plans, modern digital infrastructure and energy-efficient building services. The upper section is crowned by a recessed, glazed roof structure. The green roof garden, covering around 1,600 m², will offer future users additional recreational spaces with views of the Frankfurt skyline, complemented by green courtyards.
“With the redevelopment of the ‘Palais Rossmarkt’, the former bank building is being given a contemporary new purpose whilst also making an important contribution to the urban development of the area around Rossmarkt and Goetheplatz. I am delighted that new life will be breathed into this space in future and that this central location will be further revitalised. I find it particularly successful that the redevelopment also incorporates the roof areas as additional communal spaces. The spacious roof garden will offer new amenities for future users. I would also like to highlight the constructive cooperation between all those involved, which has played a key role in the success of this challenging planning project,” says Marcus Gwechenberger, Head of the Department for Planning and Housing at the City of Frankfurt am Main.
Responsibility for the future
Sustainability plays a key role in the building’s technical specifications. Plans include, amongst other things, heat pumps, a photovoltaic system and the use of sustainable building materials. The building is aiming for LEED Platinum, WELL Gold and WiredScore Gold certifications.
“With this construction project, we are continuing our investment in high-quality properties in prime locations. The combination of historical character and the qualities of a modern new-build creates the ideal conditions for long-term success in the lettings market,” explains Malte Andes, Deputy Chairman of the Executive Board of HanseMerkur Grundvermögen AG.
Ulrich Höller, Managing Partner of the ABG Real Estate Group, adds: “I am delighted to be able to play a part in shaping another piece of Frankfurt’s urban history with the ‘Palais Rossmarkt’. This comes with a special responsibility to preserve the building’s identity whilst at the same time developing it in a forward-looking way. After all, it will continue to shape the cityscape for decades to come.”
