The real asset and investment manager Wealthcap has achieved a
significant success for the repositioning of the Ten Towers in the east of Munich
: The renowned hotel chain Leonardo Hotels has secured a double tower of the Ten Towers in the immediate vicinity of
Munich's Werksviertel as
a tenant.
Leonardo Hotels will exclusively operate one of the five striking twin towers
in the future and integrate the hotel into the lifestyle brand NYX Hotels by Leonardo
Hotels. The long-term lease agreement for 20 years has beensigned, subject to the final building permit. A positive
preliminary building permit from the City of Munich has already been issued.
Transformation into an urban district
This is the first time that a hotel has moved into the Munich landmark building, which was designed by Kiessler
Architekten in the early 2000s. "The lease agreementclears the way for a comprehensive urban transformation of theentire ensemble and shows the potential for mixed use," explains Johannes Seidl, Managing Director of Wealthcap. The total of fivetwin towers, which were originally used by a single tenant, are currently being revitalized as a mixed-use campus typical of the core area.In addition to the hotel, individual towers are to be rented to variouscompanies in the future. Wealthcap is bringing further towers to the market for multitenant use. Residential use is also currently being examined.Seidl: "The long-term lease agreement is the prelude to a resilient andlively district. The conversion of one of the striking twin towersfrom office space to hotel space takes into account the changed requirements of the marketand has positive effects on the entire neighbourhood. With thevariety of uses, which in addition to office space accommodates a hotel and perhaps evenhousing in the future, we are revitalizing the entire area. The
entire environment benefits from this."
Renovation of the twin towers starts
The twin tower, which was previously used as office space, will be adapted to the needs and operating standards of the
tenant in the
coming months. The hotel group will operate a total of 244 rooms on approx. 13,200 square metres. A highlight for the Munich company will be the
restaurant area between two towers at a height of 50 meters, which will also
be open to external guests.
The NYX Hotel by Leonardo Hotels will offer 244 rooms in different
categories. The highlight is the restaurant on the 14th floor witha breathtaking view of the mountains and the entire city center of Munich. Also on the 14th floor is a fully glazed barin the bridge between the two towers. On the 15th floor, guestscan expect a roof terrace, while on the ground floor there are four modernmeeting rooms. A fitness room in one of the smaller bridges on the
first floor rounds off the offer.
JLL's Hotels & Hospitality Group and Härle Hotel Solutions
GmbH acted as intermediaries on behalf of the owners. The law firm
Heuking Hamburg had represented Wealthcap as a lawyer.
Munich hotel market is booming: Impulses for the neighbourhood
The Ten Towers are unique on the Munich real estate market. With aheight of 50 metres each, they open up spectacular 360-degree panoramic views of Munich and the Alps from the upper floors.In addition to the skywalks and the roof terraces, they house a centralgastro area. In total, the Ten Towers have around 69,000
square metres of rentable space on the ground floor and 14 floors
. The multi-tenant areas, which are intended for use by several tenants, can be divided from 850 square metres. In addition to the five pairs of towers, the complex comprisesaround 43,000 square metres of park-like green andopen spaces. The high sustainability standards in the revitalisation
qualify the Ten Towers for DGNB Platinum.
