Vivacon Development, a wholly-owned subsidiary of Germany's Vivacon, is planning to develop a six-storey office building in the Rheinauhafen area of Cologne, western Germany. The development, providing a total lettable area of about 8,000 m2, has been sold to AXA Investment Managers Deutschland ahead of the start of construction. The financial details were not disclosed.
Vivacon Development, a wholly-owned subsidiary of Germany's Vivacon, is planning to develop a six-storey office building in the Rheinauhafen area of Cologne, western Germany. The development, providing a total lettable area of about 8,000 m2, has been sold to AXA Investment Managers Deutschland ahead of the start of construction. The financial details were not disclosed.
Vivacon will rent the major part of the office space itself and will relocate its corporate headquarters from the south of Cologne to this new office building following completion. Construction is scheduled to start this month and completion with the handover to AXA IM is planned for the end of 2008.
On Monday, the property company also purchased 1,463 residential units in Berlin, Bremerhaven and Cologne.
