TA Europe successfully completed the technical consulting for Art-Invest Real Estate at a listed office building in the center of Essen. It is the historic former service building of the Railway Directorate of the Ruhr Area, built in 1895. After the core demolition, the object was certified with LEED Gold as an ecological high-performance building
Deutsche Bank hires and uses the building, which is equipped with state-of-the-art technologies and has an area of approximately 18,000 m2, as an office with flexible workplaces. In addition, there are 300 parking spaces available to the employees, which, however, also have an excellent transport connection to public transport thanks to the central location of the property. Combined with an above-average building substance and flexibility, the building promises a long-term increase in value.
> Read our ‘TA EUROPE AS TRUSTED TDD PARTNER IN BENELUX’ article here
TA Europe has made the following single performances:
- Assessment of the existing building fabric including the technical building equipment
- Presentation of the risks identified in the course of technical due diligence
- List of the damages and assessment of the repair / renovation costs found in the course of the technical due diligence in a CAPEX table with the following classification: immediately (year 1) / year 2-5 / year 6-10 with a corresponding description of the measures and photo documentation
- Check the inventory documents and reconcile them with the building permit
- Examination of the risk of contamination (documentary evidence without material analysis)
- Examination of the pollutant risks (only documentary evidence without material analysis)
- carrying out a data space search in relation to abnormalities; List of documents; Details of missing and still available documents
Added value / comment
TA Europe contributed significantly to the successful completion of the deal, as we were active as advisors for both contracting parties. Within the scope of the Technical Due Diligence, partial technical risks were identified that were not yet known. On the one hand, this was an added value for the customer for the negotiations, and on the other hand an uncomplicated technical solution to the risks was needed by both parties. As a result, TA Europe was able to act intermediately between the lots, and in the end also achieved added value for the seller.
For TA Europe, it is important that our customers realize their promised deals and that there are no technical risks to counter the deal. We therefore always try to find an acceptable result for all contract parties so that the deal can be finally finalized.
Project data:
Client: Art-Invest Real Estate
Period of performance: 2016
Useful area: 18,000 sqm
