School in Cologne
Hemsö and ARE have entered a joint venture to develop a new municipal school in the centre of Cologne. The school will have a leasable area of 23,000 square metres with a capacity for 1,000 pupils aged 11 to 18. A 25-year lease agreement has been entered with the City of Cologne. The investment amounts to EUR 160 million.
Austrian Real Estate (ARE), is a fully owned subsidiary of the real estate company Bundesimmobiliengesellschaft (BIG) fully owned by the Austrian state. The school in Cologne is the first joint project. Hemsö has already developed a new secondary school in Zossen and will develop a new secondary school in Rangsdorf, both located outside of Berlin.
Jens Nagel, Head of Region Germany at Hemsö– The need for new-build and renovation of schools and other educational and research facilities is huge in Germany.
– Both ARE and Hemsö have deep knowledge in the development and management of schools. Bringing the parties together in a joint venture creates an experienced player in the school segment and a strong partner to the municipalities in Germany. We are pleased to be entrusted with the development of Cologne’s social infrastructure and we look forward to doing so together with ARE, says Jens Nagel.
The new school is being developed from an existing building dating from 2008. It will undergo extensive renovation and a major expansion. The property will also include sport halls, rooftop school courtyards and a car parking garage. The project has a strong sustainability focus, including passive house construction, generous green and recreational areas and a climate-friendly energy supply. A 180 kWp solar cell facility will be installed on the roof of the school building. The building is located in the Kalk district of Cologne, Germany’s fourth largest city.
Construction is scheduled to start in summer 2025, with completion estimated for summer 2028.