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12.08.2019

GSK Stockmann advises W2 Development and Competo on acquisition of Königstrasse 35 in Stuttgart

GSK Stockmann advised the Stuttgart project developer W2 Development and the Munich investment specialist Competo Capital Partners on the joint purchase of the “Kö 35” office and commercial building in Stuttgart from Allianz Lebensversicherungs AG. The parties agreed to keep the purchase price confidential.

The property located in Stuttgart’s main shopping street (35, Königstrasse) offers office and retail space. The building, which was first completed in 1911 and rebuilt in 1949 after its destruction, will be replaced by a new six-storey building of approx. 4,000 m2 of commercial space, of which 1,800 m2 will be retail and around 2,200 m2 will be used as offices. Construction is scheduled to start at the end of 2020.

GSK Stockmann comprehensively advised the joint venture partners W2 Development and Competo Capital Partners on the legal and tax aspects of the acquisition. GSK Stockmann regularly advises the W2 Development / Competo Capital Partners, most recently e.g. on the sale of the Airfield Office to Real I.S.

Advisers of W2 Development and Competo Capital Partners:

GSK Stockmann: Dr Dirk Brückner (Real Estate, lead), Dr Dirk Koch (Tax), Dr Marcel Vietor (Corporate)