Aurelis Real Estate GmbH has acquired the former Michelin site in Karlsruhe from Michelin Reifenwerke AG. The approximately 126,000 square metre site in the Grünwinkel district is to be redeveloped in the coming years under the name "Profilwerk Karlsruhe". A total of 74,300 square metres of rental space is planned for various uses, including production, technology-oriented operations and logistics. The purchase price was not disclosed.
Aurelis plans to demolish a large part of the existing buildings and create a diverse range of space on the site. Four large hall units, an entrepreneurial park with eight units and the new product Aurelis Ateliers are planned. The aim is to create a location profile that takes up the industrial history of the area and at the same time creates space for new value creation, jobs and growth in Karlsruhe. Part of the building stock will remain. This includes the "Gewerkshaus", a start-up and trade centre for crafts and small manufacturing industries operated by the Economic Development Agency of the City of Karlsruhe, which is to be put into operation before the end of this year. The city of Karlsruhe will thus remain represented as a tenant on the site even after the change of ownership.
"The fact that we have succeeded in acquiring this site is a special success for Aurelis. Locations of this size, with this industrial history and in such an established location rarely come onto the market, and the interest was correspondingly high," says Alexander Schmid, Managing Director of Aurelis Region Mitte. "With Profilwerk Karlsruhe, we have the opportunity to develop a modern company location with a wide range of space and to create a new address for sustainable uses."
"The revitalization of the former Michelin site is of great importance for Karlsruhe as a business location. It is an important signal that an area that is already used commercially will continue to offer space for companies and jobs. We welcome the fact that Aurelis wants to develop the location in the west of the city in the long term," says Gabriele Luczak-Schwarz, Mayor for Economics, Science and Finance of the City of Karlsruhe.
"With the completion of the sale, we are paving the way for the further development and long-term use of the site. We are pleased to have found an experienced and reliable partner in Aurelis who pays tribute to the industrial history of the site and at the same time develops a viable future for it," says Christian Metzger, Director of the Karlsruhe site and plant at Michelin.
The Profilwerk Karlsruhe is intended to offer attractive development prospects to companies with larger space requirements as well as medium-sized companies. In the Unternehmerpark, combinable units between 2,500 and 4,200 square meters are planned for different uses. The Aurelis Ateliers will also create rental space from 200 square meters. They complement the existing trade union house of the city of Karlsruhe with further small-scale space offers.
"Suitable commercial space is an important prerequisite for companies to be able to develop in Karlsruhe. This involves very different needs: from small manufacturing companies to companies with large space requirements. With the trade union, we have already created an offer for smaller companies in the start-up phase on the site. The planned development can now expand the range of space in a meaningful way," adds Torben Stieglitz, Head of the Karlsruhe Economic Development Agency.
The area has very good connections to the regional and national transport network. The B10 motorways 5 and 8 can be reached in a short distance. The Rhine port of Karlsruhe is in the immediate vicinity.
The demolition of the existing buildings is to begin this year. According to the current status, construction of the new buildings is scheduled to start in 2027. Completion is to take place gradually by 2029.
Colliers acted as an advisor and broker for Aurelis in the transaction.
