As of: February 20, 2024, 5:40 p.m
By: Nadja Hoffmann
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The chic business and office building was to be built on Stachus.
Future: uncertain.
© Graphic: Elements of Infrastructure
Is Munich threatened with the next ugly vacancy?
At least nothing is moving forward on this construction site for the time being.
According to industry sources, the project developer is said to be insolvent.
This is the next bad news for Munich's city center: there, near the Stachus, in a prime location, there is a threat of the next long-standing building ruins.
Work has already stopped on the construction site for MucOne, which is to be built at Adolf-Kolping-Straße 10.
The project company that was supposed to build the stylish new building has filed for bankruptcy.
The real estate newspaper reports exclusively on this in collaboration with the Süddeutsche Zeitung.
The news is explosive on various levels.
The project company belongs to the Austrian group Imfarr, which owns several construction projects and properties in Germany.
Munich is specifically affected: the Highlight Towers on the Isar are part of the group's portfolio.
Until recently he was also the owner of the Elementum, which is to be built opposite the main train station.
At the beginning of September there was real real estate poker surrounding the property, which is currently under construction.
Even then, payment problems for the project developer from Vienna became known.
Ultimately, the risk hedge fund Oaktree took over the majority of Elementum.
Imfarr remained 25 percent.
The new square in the train station district was actually supposed to be built by 2026.
Now the new owner reserves the right to leave the schedule more open.
It remains to be seen to what extent the bankruptcy of its subsidiary “Elements of Infrastructure”, based in Grünwald, has an impact on the bigger picture.
The project company wanted to build a stylish office and commercial building on 13,400 square meters on Stachus.
There used to be a parking garage on the site