Preliminary building permit for Timber Factory commercial campus legally binding

2023-09-21 05:01:32

Munich (OTS) – The preliminary building permit for the Timber Factory is legally binding. Munich’s first wooden commercial campus will be developed on a site area of over 28,000 m2 on Baubergerstrasse and in the immediate vicinity of Moosacher Bahnhof and will offer over 59,000 m2 of gross floor space. The ensemble includes a commercial yard as well as areas for production, offices and retail. The Timber Factory is being created in a joint venture between UBM and ARE Austrian Real Estate (ARE), which holds a 40% stake in the project.

“The Timber Factory offers exactly what is currently missing in Munich. From startups to company headquarters, from workshops to high-quality laboratories, tenants will find all options here, including optimal transport connections,” says Thomas G. Winkler, CEO of UBM Development AG.

“The Timber Factory is currently ARE’s largest project development in Germany. With a climate-friendly energy supply and wood hybrid construction, it offers the best conditions for an all-round sustainable and future-oriented commercial campus,” emphasizes Hans-Peter Weiss, CEO of ARE Austrian Real Estate. With around 59,000 square meters of gross floor area, a good 24,000 square meters of commercial space, more than 27,000 square meters of office space and almost 4,000 square meters of retail space are to be created.

green. smart. and more.

In addition to the environmentally friendly wood-hybrid construction, the Timber Factory also relies on a climate-friendly energy supply, which makes a further contribution to environmental and resource conservation in operations. The area is located in an up-and-coming district that, due to numerous real estate developments in the immediate area, is experiencing high demand even in a gloomy environment.

UBM has set itself the goal of becoming the leading developer of timber construction projects in Europe. Thanks to the recent acquisition of the “Timber Marina Tower” in Vienna – currently the tallest wooden skyscraper in the world at 113 meters – more than 300,000 square meters are already being developed in wood hybrid. This means that 72 percent of the total pipeline is constructed in this way.

UBM Development and ARE entered into a strategic partnership in May 2020, which also includes another major project, the Vienna “VILLAGE IM DRITTEN”.

UBM Development is one of the leading developers of timber construction projects in Europe. The strategic focus is on green building and smart offices in major cities such as Vienna, Munich, Frankfurt and Prague. The platinum rating from EcoVadis and the prime status from ISS ESG confirm the consistent focus on sustainability. With 150 years of experience, UBM offers all development services from a single source, from planning to marketing. The shares are listed in the Prime Market of the Vienna Stock Exchange, the segment with the highest transparency requirements.

Die ARE Austrian Real Estate, ARE for short, is one of the largest property owners in Austria. The portfolio includes 582 office, residential and commercial properties with around 1.9 million square meters of rentable space. The market value of the portfolio is around 4.2 billion euros. The development of attractive districts with well-thought-out infrastructure is one of ARE’s core competencies. The aim is to work with partners and stakeholders to create neighborhoods that meet the demands of the future. ARE is a 100% subsidiary of BIG (Federal Real Estate Company).