FIRST MAJOR LEASE: EGYM LEASES 6.000 SQM OF OFFICE SPACE IN THE BAVARIA TOWERS MUNICH

24.04.2018

  • 10-year-lease agreement signed
  • High-tech company in the fitness and health business will occupy 4 floors in the Blue Tower
  • Developers currently in advanced talks to conclude further leases

A major lease has been signed for one of the most spectacular real estate projects in Munich. Bayern Projekt GmbH has concluded for the Bavaria Towers in the east of the regional capital, a long-term office lease agreement with eGym covering 6.000 sqm of office space.

The high-tech company in the fitness and health business will move its headquarters, after completion of the four-tower project end of 2018, to floors 1 to 4 of the Blue Tower belonging to investor Von der Heyden Group. The tenant has been advised by Igenus Immobilien and Bayern Projekt by Colliers International.

Sven Renz, Managing Director of the real estate developer Bayern Projekt says: ‘The Bavaria Towers are one of the most spectacular developments in recent years in Munich. With construction progressing we simultaneously see a strong demand for office space and it is with great pleasure that we can now announce the conclusion of this major lease with the innovative and successful eGym in line with our leasing strategy.’

Sven von der Heyden, Chairman of the Von der Heyden Group says: ‘We are delighted to welcome eGym to Bavaria Towers, after the successful complete lease-up of the White Tower to H-Hotels we are now starting to harvest the fruits after a 12-year long journey. My sincere thanks to all our consultants and in particular to Bayern Projekt.’

The conclusion of the lease comes on the back of other milestones surrounding the mega-project comprising a total of 62.000 sqm of office space in its three 46 to 84-meter office towers. For the 15.600 sqm hotel building White Tower the tenant H-Hotels recently announced that it will open Munich’s first Hyperion Hotel covering 15 floors. With the move of eGym, which through the digitalization of training facilities contributes to the optimal functioning of gyms for all user groups, the group of tenants is further expanding.

Currently Bayern Projekt is in advanced talks with various other large interested tenants. Markus Turrek, Executive Project Manager at Bayern Projekt: ‘We are convinced that in the next weeks to months further major leases can be announced.’

Bavaria Towers completed soon

The construction works on Munich’s new landmark project are progressing in line with expectations. The main construction of the buildings has been finalized and the finishes of the inner parts as well as the technical installations is in an advanced stage. Full completion of the project is expected for end of 2018. With the Bavaria Towers, one of the most important real estate developments of Munich in the last decade become a reality, that will redefine the eastern part of the city.

The 380 million Euro project at the crossroads of Einsteinstrasse and Prinzregentenstrasse is the first high-rise project in many years being developed in Munich. The initiator of the project is Bayern Projekt GmbH, which is realizing the project after more than 12 years of preparation time together with the investors Von der Heyden Group and Zurich Insurance Group Germany. The construction started two and a half years ago.

Press release – 24.04.2018