Munich is to get its first hybrid timber office building, after LaSalle Investment Management’s Encore+ fund agreed to convert a site in the west of the German capital.
The fund will work with Accumulate Real Estate Group to build the office block, located in the city’s Westend district, which it hopes will “set new standards in terms of sustainability” from building materials up to eventual operation of the site.
Featuring a landscaped courtyard, and being developed using an environmentally friendly building management system, the building will total 161,458 sq ft over seven floors.
David Ironside, fund manager of Encore+, said: “We are aiming to set new standards in terms of sustainability, and taking a pioneering role in the development of hybrid timber office buildings in Munich.
“In Munich’s office market, where for years a persistently strong demand has coincided with low vacancy rates, the ‘office of the future’ will deliver high long-term returns for our investors.”
Daniel Manta, project manager at Accumulata, added: “Collectively, the design components form the core of tomorrow’s workplace where people love spending time, while simultaneously helping to minimise the environmental impact.”
