PATRIZIA, a leading partner for global real assets, has on behalf of its institutional clients sold its office development on the MK 7 site in Munich’s Werksviertel district.

The pension fund of Wacker Chemie VVaG acquired the prestigious new building in order to relocate the HQ of the German chemical company, Wacker Chemie AG, to the Werksviertel. Both parties have agreed not to disclose the purchase price.

The building offers more than 18,000 square metres of lettable and flexible office space across six floors as well as over 200 underground car parking spaces. The building was designed by C.F. Møller, one of Denmark’s most renowned architectural firms. The development is scheduled to be completed by the end of 2023.

In 2019, PATRIZIA acquired the site of the development in Munich’s Werksviertel, a former industrial area with a colourful history that over time developed into a unique vibrant and innovative district in recent years. The former inner-city industrial area is still characterised by the former factories near the Ostbahnhof, and before the current development it was known as one of the largest night clubbing areas in Europe under the name Kunstpark Ost.

Due to the history of the area and the flexible use of the office space, the building is called ‘CO:WK’. The ‘CO’ is inspired by the collaboration within the building and is primarily intended to emphasise that this is collaborative place where people come together, discover and exchange ideas. Through ‘WK’, representative of ‘Werk’ and the English equivalent ‘works’, the name alludes to the industrial legacy of the site, and also to the spirit of collaboration in the modern workspaces.

You can now read the full press release at the link below