(DGAP-Media / 2015-09-02 / 15:44) · Owner-occupiers and investors in Munich are increasingly assessing property according to functional criteria · Lifestyle and international trends to be more strongly reflected in one's own home Munich, 2 September 2015. Quality living space for staff posted abroad, international flight connections, a wide range of leisure activities: Munich currently ranks as the number one city in Germany in terms of quality of life. The Bavarian capital gained this rating in the global comparative study conducted by the consulting company Mercer assessing the quality of life in 230 cities each year. Internationally, Munich ranks fourth after Vienna, Zurich and Auckland. With such a quality of life, the city is highly attractive - not only to skilled employees from abroad, but to those from elsewhere in Germany, too. The population of Munich is forecast to exceed 1.6 million by the end of 2018. And according to the city's current demographic report it is expected to increase to 1.7 million in the subsequent ten-year period - growth of 13 per cent as compared to 2015. Consequently, developers of residential property are faced with considerable challenges: they have to create more housing despite a shortage of space, while at the same time responding to international demands and varied lifestyles. The property project FRIENDS by LBBW Immobilien and its partners extending up until the summer 2016 aims to tackle these challenges and could well prove to be a groundbreaking concept - not just for the Munich property market. The morning starts at 7 am with a jog in the nearby park. The first meeting starts at 9 am in the office. The computer is switched off at 7 pm. For many city-dwellers, this routine is a way of life. They don't actually spend much time in their own home - which means they have higher expectations of its design. "People who are out and about a lot in their job are looking for one thing above all in terms of home design: comfort as an enhancement of their quality of life", explains Jürgen Schorn, managing partner of Bauwerk Capital GmbH & Co.KG, the company responsible for consulting, sales and marketing on the Munich project FRIENDS. According to Schorn, this means that short distances and a good infrastructure are key selection criteria among those seeking housing in major cities. This is not new, of course. But there is also an increasing focus on concepts that make the home a lifestyle element, while at the same time reflecting international characteristics. "When we were planning FRIENDS, we wanted to create a building that would give residents a balance between everyday routine and leisure. At the same time, the aim was to provide those interested in larger apartments on the upper floors, as well as buyers of medium-sized and smaller apartments the kind of added value they wouldn't find currently elsewhere in Germany in this particular constellation," as Tobias Wilhelm, the LBBW Immobilien project manager responsible for FRIENDS, stated. Much space even in small apartments The interior of FRIENDS seeks to embody the future of interior design, as well as adding a touch of international flair. A central cube structure in each apartment comprises the kitchen, bathroom, WC, dressing room and housekeeping room. Even in the smaller units, this frees up additional room and creates a more generous sense of space in the larger apartments in particular. Seasonal clothing or rarely used items such as sports equipment can be kept in well-ventilated, separate and lockable storage areas in the basement floors. This likewise creates more space in the home itself. If it's too late to go jogging in the park, the in-house fitness studio will still be open. There's a keeper who welcomes residents and guests in the spacious entrance lobby. He receives parcel deliveries, organises cleaning services, takes care of any visiting workmen and waters plants when residents are away. Snacks are served throughout the day at an in-house deli. Whoever wishes to throw a party or cook dinner with lots of friends can hire a fully fitted kitchen lounge. And: even residents on the lower floors can enjoy the views offered by FRIENDS - from the furnished rooftop terraces, each around 200 square metres in size, that will be provided on both buildings at an altitude of 53 metres and accessible to all residents. An urban location close to nature FRIENDS also offers added value due to its location. The central rapid transit train line (S-Bahn) is just a few minutes' walk away, providing a direct link to both the city centre and the airport. The extensive Hirschgarten park is also nearby, as are numerous stores in the "Forum am Hirschgarten". Residents are just a few minutes' bicycle ride from Rotkreuzplatz with its urbane side streets and little boutiques. With connections to the main highways and motorways, as well as the rapid transit train, the Alpine foothills and lakes to the south of Munich are likewise within easy reach. Tobias Wilhelm: "At the moment there is no other property in Germany that combines such a wide range of services in terms of concept, fittings and location. Not just for its own sake but also in response to the needs of today's national and international property seekers. More than 50 per cent of the 260 units have been already sold - even though structural engineering work did not get underway until March. The high level of demand indicates that the concept is going down well. So FRIENDS could act as role model for other projects and cities." About the property project FRIENDS Changing living conditions and outlooks, ongoing population growth, housing shortages, increasing purchase prices and rental rates: in order to tackle the challenges of the Munich property market, LBBW Immobilien has commissioned its subsidiary IMBW Capital & Consulting GmbH to join forces with its partners to develop a residential and architectural concept that addresses future trends and needs. Its name: FRIENDS. The concept is based on an extensive market and location analysis, as well as a qualitative survey of individuals in search of residential property in Munich. The outcome: city-dwellers' lives are becoming increasingly flexible and their approach to life is changing as a result. This also applies to their living situation. Property has to adapt to meet these new demands. Consequently, a concept was developed for the two 53-metre high buildings, each with some 130 apartments, that are being built west of Wilhelm-Hale-Strasse in the urbane Munich district of Neuhausen-Nymphenburg: the aim is to tap into lifestyle trends such as sustainability, sharing, collaborative consumption, What's Mine Is Yours, the 25-hour society and new technological possibilities. As a result, space is generated inside apartments by means of additional storage areas in the basement and the compact arrangement of bathroom, kitchen, housekeeping and dressing room in a cube system. Shared areas are also planned: rooftop terraces on each of the buildings for use by all residents, a fully fitted kitchen lounge in which residents can cook and party with friends, a deli and a fitness studio. A keeper is there to receive parcel deliveries during the day, organise apartment cleaning and dry cleaner orders or repair bicycle tyres. In designing the metal and glass facade, the Munich architects' office Allmann Sattler Wappner sought to create a contemporary style. Protruding elements with wide, three-dimensional and floor-to-ceiling windows convey elegance and dynamics on the outside, creating loggia-type porches that provide 180-degree panoramic views of the city, countryside and mountains. The apartments range in size between 45 and 145 square metres: they have between one and three rooms and can be combined on request. Currently, six of the 25 apartment types and more than 50 per cent of all apartments have been sold. Bauwerk Capital GmbH & Co.KG is responsible for consulting, marketing and sales. Underground construction work started in April 2014, structural and fitting work got underway in spring 2015. The ensemble is due for completion in summer 2016. The construction site itself is situated south-west of Hirschgartenpark in the district of Neuhausen-Nymphenburg. It forms part of the "Am Hirschgarten" area between Munich central station and Pasing, which was a previously railway site and has been undergoing development since 2007. All in all, this stretch of land has a total surface area of 270,000 square metres and will create space for 3,100 jobs and 3,400 residents. For further information, see: www.wohnen-im-friends.de Press contact scrivo PublicRelations GbR Nadine Anschütz Managing Director/PR Consultant Elvirastrasse 4, Rgb. D-80636 München Phone: +49 89 45 23 508 10 Fax: +49 89 45 23 508 20 E-Mail: Nadine.Anschuetz@scrivo-pr.de Internet: http://www.scrivo-pr.de LBBW Immobilien Management GmbH Dr. Brigitte Reibenspies Press Officer Fritz-Elsas-Strasse 31 D-70174 Stuttgart Phone: +49 711 21 77 4124 Fax: +49 711 21 77 4651 E-Mail: Brigitte.Reibenspies@lbbw-im.de Internet: http://www.lbbw-immobilien.de Consulting, sales and marketing Bauwerk Capital GmbH & Co. KG Prinzregentenstrasse 22 D-80538 München Phone: +49 89 415595 15 Fax: +49 89 415595 29 E-Mail: info@bauwerk.de Internet: http://www.bauwerk.de End of Media Release Issuer: scrivo Public Relations GbR Key word(s): Real estate 2015-09-02 Dissemination of a Press Release, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de 392071 2015-09-02
(END) Dow Jones Newswires
September 02, 2015 09:44 ET (13:44 GMT)
