• Pavilion 4 of the Eiermann Ensemble renovated for interim use
• New Consus office on the site of the future VAI Campus
Stuttgart, 7 January 2020. Consus Real Estate AG (“Consus”) has renovated the Eiermann Ensemble’s Pavilion 4 and upgraded it for temporary use as part of the first phase of the VAI Campus development plan to revitalise the former IBM site. The timeless structures of the office properties, designed by Egon Eiermann for IBM in Stuttgart-Vaihingen in the 1960s, are officially listed as landmark buildings and will be completely renovated and equipped for modern usage concepts during the redevelopment of the VAI Campus quarter.
In keeping with the redevelopment scheme, Pavilion 4, a later addition to the Ensemble, will be demolished to create a lake in the centre of the new quarter as construction progresses. Until the property is ready for demolition, Pavilion 4 will first be extensively renovated by Consus and used as an on-site office, and thus serve as a hub for planning and construction measures on the Campus. And because Consus will not be occupying the entire five-storey building, additional areas of different sizes are available for interim use by other tenants. The first interested parties have already seized the opportunity – not least because it gives them the chance to be one of the first tenants to take up space in the quarter and later, once the revitalisation of the entire ensemble is complete, among the earliest occupants of the new office complex.
“We are looking forward to moving into the first office spaces here on the VAI Campus and to welcoming other users to Pavilion 4”, said Andreas Steyer, CEO of Consus Real Estate AG, commenting on the news that these first construction measures have been completed on the site. “These first spaces will serve as a showcase for the future of the Eiermann Ensemble”.
By 2027, an entirely new quarter will have taken shape on the 14.5-hectare site around the listed Eiermann Ensemble, comprising residential, office and commercial units with a total rental and sales area of approximately 190,000 square metres. This flagship project is currently one of the largest residential construction projects in Stuttgart and one of the reference projects in the context of the International Building Exhibition IBA 27 StadtRegion Stuttgart, which bundles and accompanies major urban development projects in and around Stuttgart in 2027. The aim is to create a vibrant neighbourhood and several day-care centres and a school are planned for the quarter, which is designed to fulfil the latest building standards.
About Consus Real Estate AG
Consus Real Estate AG (“Consus”), headquartered in Berlin, is the leading real estate developer in Germany’s Top 9 cities. Consus Real Estate’s development portfolio had a gross development value (GDV) of EUR 10.3 billion as of 30 September 2019. Consus focuses on the development of entire neighbourhoods (quartiers) and standardised apartments, which are sold to institutional investors in forward deals. In-house construction expertise and the capability to digitalise construction processes allow Consus to operate along the entire property development value chain. Consus manages and executes development projects from planning through construction to transfer of ownership, and provides property management and related services through its subsidiaries CG Gruppe AG and Consus Swiss Finance AG. Consus’s shares are listed in the Scale segment of the Frankfurt Stock Exchange, the m:access segment of the Munich Stock Exchange, and are also traded on XETRA in Frankfurt.