Wöhr + Bauer realizes hotel extension for Mandarin Oriental
Munich – Four years prior to the beginning of the construction, the first user of the new real estate complex at Hildegardstraße stands firm. On Tuesday, 25th March 2014, the Mandarin Oriental Hotel Group signed the contract for extending its successful German location. By that, the German project and real estate developer WÖHR + BAUER was able to win the renowned hotel chain as partner for the project Hildegardstraße. The investment of the hotel group into the existing hotel and the hotel extension will be approx. 124 million Euros in today’s terms.
The two buildings developed by WÖHR + BAUER will create space for a high quality mixture of living, lifestyle, and working on 23,000 sq m above and under ground. One of the two buildings will be connected via an underground tunnel with the existing Mandarin Oriental Hotel and will house after the opening in 2021 51 new guest rooms, approx. 800 sq m retail space as well as six of the 19 exclusive penthouses of the world-famous brand Residences at Mandarin Oriental.
The site at Hildegardstraße was purchased in 2013 by WÖHR + BAUER from the City of Munich. As a condition for the demolition of the car park, which is currently at this space, WÖHR + BAUER is obliged to develop and construct a replacement car park in immediate proximity. Therefore WÖHR + BAUER will build until 2018 an underground car park with 530 spaces at Thomas-Wimmer-Ring. Subsequently, the construction at Hildegardstraße will begin.
With an investment of approx 124 million Euros in today’s terms Mandarin Oriental Hotel Group will invest into the existing hotel and will become owner of 51 new guest rooms, a restaurant with bar, a Spa- and fitness centre with swimming pool and 10 underground parking spaces. WÖHR + BAUER remains owner of the retail space, the space for gastronomy, parking and offices as well as of all 19 Residences at Mandarin Oriental, which will be offered by Wöhr+Bauer as freehold flats.
Edouard Ettedgui, Group Chief Executive Officer of Mandarin Oriental is looking forward to the extension of the successful location in Munich: “This project creates a rare opportunity to expand one of Mandarin Oriental’s best performing assets, and further strengthen Mandarin Oriental, Munich’s market leading position in this strategically important German city.” To WÖHR + BAUER, the investment of Mandarin Oriental is an important role for the high quality development of this complex.
“We are delighted by this partnership with Mandarin Oriental which enables us to bring the desired Residences at Mandarin Oriental to Munich, and to extend one of the best hotels of the world”, emphasizes Wolfgang Roeck, Managing Partner of WÖHR + BAUER. Roeck sees a great chance for the entire quarter in this project: “Through this construction, the whole area between Maximilianstraße and Tal can be relieved from traffic and gain attractiveness.” Roeck emphasizes their holistic approach during the planning: “Our goal is, to create a vivid quarter that meets the criteria of an urban metropolis and unites tradition with modernity.” Through various mixed use options the area shall offer Munich citizens, residents and international visitors a high quality for their stay – also through gracious open spaces.”
Creating real estate in premium locations meeting the special criteria set by companies – and solving complex tasks through intense dialogue with all the parties involved – these are hallmarks of WÖHR + BAUER. To successfully implement a huge inner city project in competition of complex interests, WÖHR + BAUER can trust upon longstanding experience and the broad spectrum of competencies in its team.
Along with technical ingenuity and economic know-how, the competencies of WÖHR + BAUER include empathy and foresight of urban planning. “We are excited about the idea of finding the best concept for a location and the best solution for a building”, says Managing Partner Roeck. “We approach the objects with a sense of urban planning and we especially include the surrounding of the real estate. That offers benefits for the neighbors as well as the future residents and users”.
Mandarin Oriental Hotel Group
Mandarin Oriental Hotel Group is the award-winning owner and operator of some of the most luxurious hotels, resorts and residences. The Group has grown from a well-respected Asian hotel company into a global brand and now operates, or has under development, 44 hotels representing over 11,000 rooms in 26 countries, with 20 hotels in Asia, 10 in The Americas and 14 in Europe, Middle East and North Africa. In addition, the Group operates or has under development, 13 Residences at Mandarin Oriental connected to its properties. Mandarin Oriental is a member of the Jardine Matheson group.
Wöhr + Bauer GmbH (W+B)
W+B is a leading developer of high-end real estate projects in prime city locations, usually in conjunction with multi–storey and underground parking facilities. Originally founded in Munich in 1991 as a joint venture between the GmbH´s of Bauer & Wöhr, today it is owned equally by the GmbH´s of Bauer, Wöhr and Roeck. Bauer GmbH is a 99% owned subsidiary of the Frankfurt listed Bauer AG, which has more than 200 years of construction and machinery manufacturing experience. Otto Wöhr GmbH is a family owned business originally founded in 1902, with an established presence as a builder of high-end parking systems worldwide.