Investing in historic buildings to turn them into ultra modern offices

Patrizia is a German company managing buildings across Europe. But it’s no ordinary property manager. Resolutely modern and respectful of the environment, it uses tools such as artificial intelligence to imagine the future of urban complexes. A more comfortable and environmentally friendly future. As with District 22, the new startup district in Barcelona, Spain. The latest idea of the German company ? Investing in historic buildings in the largest cities to create the buildings of the future. Its last operation? The purchase in the historic Postbahnhof building in Berlin, Germany. Patrizia acquired the asset on behalf of institutional clients from HighBrook Investors. Zoom in on this futuristic project which is about to see the light of day in the heart of the German capital.

The Postbahnhof, a historic building in Berlin

First built in 1907, the Postbahnhof is a listed building steeped in history. It originally served as a rail hub for parcel delivery before being converted into an office and event space in the mid-1990s. It consists of two buildings, each approximately 100m long, which are positioned opposite each other with two smaller buildings swarmed between them. It should be noted that this is one of the few buildings built during the Imperial era that has survived as it is. Indeed, even the Reichstag had to be rebuilt several times. A site steeped in history, but which also has advantages for the future.

A more sustainable building …

The site includes approximately 9,100 square meters of existing high-quality office space occupied by e-commerce companies Zalando and Kayak. Patrizia is about to undertake major renovations. Work that will see the former event space transformed into an additional 3,600 square meters of modern offices. Completion is scheduled for 2023. Patrizia will place a strong emphasis on sustainability in the preparation of project design and execution plans. All this in order to achieve a high level of sustainable certification (notably through the BREEAM label). Many renovation challenges. These challenges will have to respect the characteristics of a historic building.

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… And more dynamic

Located in Berlin’s Friedrichshain district, the Postbahnhof is located in a thriving office submarket that enjoys excellent public transport links. Berlin Ostbahnhof Main Station is a two-minute walk away and connects directly to the main transport hub of Berlin Central Station. The surrounding area is experiencing high levels of development. Patrizia is banking on this phenomenon to further improve the dynamism and diversity of the spaces and equipment offered. “Postbahnhof is an important part of Berlin’s heritage and we are privileged to play a role in preserving and transforming this incredible space into a new destination for the city’s businesses,” says Ulf Christiansen, Acquisitions Manager at Patrizia. “Mediaspree is one of Berlin’s most dynamic submarkets and we expect occupant demand to remain strong,” he adds with confidence.

Crafting offices of the future in historic buildings is an idea that seems bright. Bright because in the old towns of Europe, the possibilities are endless. In this time of the pandemic, the idea of creating more efficient offices also seems to be in tune with the times. Finally, investing in sustainability in order to achieve quality labels can also only guarantee the success and sustainability of the project. Patrizia seems to have understood everything. If no information has filtered out on possible new projects, specialists are still on the lookout.