German investor Zech Group and development company Projektentwicklung have signed an agreement with telecommunication company Vodafone for the construction and leasing of the Vodafone-Campus project in Dusseldorf. Zech Group is the main investor in the project, with Projektentwicklung carrying out the development work.
German investor Zech Group and development company Projektentwicklung have signed an agreement with telecommunication company Vodafone for the construction and leasing of the Vodafone-Campus project in Dusseldorf. Zech Group is the main investor in the project, with Projektentwicklung carrying out the development work.
Designed by architectural firm HPP Architekten, the Vodafone-Campus will offer around 86,000 m2 of office space on completion expected by the end of 2012. The total investment volume is expected to amount to over EUR 300 mln. Vodafone has agreed to take a 20-year lease on the property, which will include a 100-metre high office tower, three bars, and a parking lot offering over 2,000 car spaces. Construction is planned to start this week.
The development is being financed by a consortium of German regional banks Landesbank Berlin/Berlin Hyp, DG Hyp as well as Italy's Unicredit.
'Projects such as Vodafone Campus Düsseldorf are only possible through cooperation with other companies,' said Stefan H. Mühling, managing director and shareholder of Projektentwicklung. The property will bring together Vodafone's several sites into one integrated campus, including 110,000 m2 of gross space.