Stuttgart: Competo and W2 buy “KÖ 35” and plan new development
Competo Capital Partners and W2 Development have jointly acquired the office and retail building “KÖ 35” in Stuttgart from Allianz Lebensversicherungs AG. The structure, which was built in 1911 on Königstraße 35 and rebuilt after being destroyed in 1949, is to be demolished starting in late 2020 and replaced with a new construction. The drafts by willwersch architekten calls for a six-story building with 4,000 sqm commercial space, of which 1,800 sqm will be for retail and 2,200 sqm for office use, as well as an underground parking garage. Legal and tax advice was provided to the buyers by GSK Stockmann; the seller was advised by CMS Hasche Sigle.
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