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GSK Stockmann provided comprehensive legal advice to Art-Invest Real Estate on a new long-term lease agreement with Süddeutscher Verlag for a large volume of office space in the SZ Tower in Munich.
The SZ Tower is a landmark high-rise building located at Hultschiner Strasse 8 in eastern Munich. The building has a total area of approximately 21,490 square metres, with a lettable area of around 54,500 square metres GFA. Since its completion in 2008, the building has been used exclusively by the German media company Süddeutscher Verlag.
The new lease represents a key milestone in the strategic transformation of the building into a modern, multi-tenant property. As part of the planned redesign, the SZ Tower will be modernised and adapted for new uses. Art-Invest Real Estate aims to update the property to meet the demands of the modern workplace by introducing a cutting-edge usage concept including shared amenities, such as modern conference and catering areas, fitness facilities and New Work spaces.
GSK Stockmann provided expert advice to Art-Invest Real Estate, particularly regarding the legal structuring and negotiation of the new long-term lease agreement. This included guidance on the operating and utilisation concepts in a multi-tenant setting, aspects of tenancy law related to shared spaces, as well as investment law, tax requirements and sustainability. The firm’s advice also included the agreement of an interim phase for the remodelling of the property.
“The new lease with Süddeutscher Verlag represents a successful combination of continuity and transformation. When structuring the contracts and conducting the negotiations, a balance had to be struck between the long-term requirements of an anchor tenant and the flexibility of a future multi-tenant concept, while also taking complex interdependencies with the construction measures during the remodelling, as well as ESG aspects into account. A well-balanced contractual framework is crucial for the integration of New Work concepts and shared spaces – from making the use of the space more flexible to ensuring governance-compliant management. This is precisely where our advice comes in. We are delighted to have supported Art-Invest Real Estate with this flagship project,” says Monique Franke, Partner for Real Estate Investments & Asset Management at GSK Stockmann.
Advisers of Art-Invest Real Estate at GSK Stockmann:
Monique Franke (lead, Real Estate Investments & Asset Management), Stephan Wachsmuth (Tax) and Bianca Luppert (Real Estate Investments & Asset Management)
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| Contact:
GSK STOCKMANN Monique Franke Karl-Scharnagl-Ring 8 80539 Munich T +49 89 288174 - 661 F +49 89 288174-44 |
Press contact:
GSK STOCKMANN Christina Holl Karl-Scharnagl-Ring 8 80539 Munich T +49 89 288174-275 F +49 89 288 174-44 |
GSK Stockmann is a leading independent European corporate law firm. Over 250 professionals advise German and international clients at our locations in Berlin, Frankfurt/M., Hamburg, Heidelberg, Munich, Luxembourg and London. GSK is the law firm of choice for Real Estate and Financial Services. We provide comprehensive advice to domestic and international real estate investors, developers, owners and users at every stage of the real estate life cycle, from initial structuring and development to letting, operation and exit. We also have deep-rooted expertise in key sectors including Funds, Capital Markets, Public, Mobility, Energy and Healthcare. For international transactions and projects, we work together with selected reputable law firms abroad. Our advice combines an economic focus with entrepreneurial foresight. That is what is behind: Your perspective.
More about us: www.gsk.de
