16.02.2011 14:32 Uhr in Wirtschaft

BUSINESS WIRE: The Seven - Yesterday a Thermal Power Station, Today a Penthouse: Munich's Most Expensive Flat Has Sold



Great interest in luxury flats and office space in downtown Munich: over 30
percent of the space in the former industrial plant "The Seven" has already

MUNICH --(BUSINESS WIRE)--16.02.2011--

The fact that luxury flats are garnering record prices is not only seen in real
estate sales in London, Moscow and Paris. The Bavarian capital of Munich has
been heading up the rankings for years when it comes to real estate prices in
Germany – and now it has even outdone itself. The residential and business
district "The Seven" is currently being developed on the grounds of a shut-down
thermal power plant in the heart of the city. Its luxurious flats offer a view
that stretches to the Alps on the horizon. The penthouse in the top of the
former machine tower is considered to be the most expensive flat in the city.
It has now been sold to a Munich businessman. There continues to be great
interest on the part of German and foreign investors. "The demand for the
flats, private offices, and commercial space in 'The Seven' exceeds even our
own ambitious expectations," says Jörg Scheufele, Managing Director of the
project partner alpha invest Projekt GmbH.

The snow-covered Alps on the horizon. An unobstructed, unique view over the
city of Munich. Culture, nature, and shopping are right outside the door.
Countless lakes with their expansive shorelines are just minutes away by car.
With "The Seven", a residential and commercial property is being developed
right in the heart of the Bavarian capital of Munich, which is and will remain
one of a kind. The renowned Berlin architectural firm Léon Wohlhage Wernik has
planned a luxurious residential and office complex on the grounds of a
shut-down thermal heating plant, which is already drawing excitement from
German and international investors even two years before its completion.

The highlight of the real estate complex rises up 56 metres above the site: a
former machine tower is the only building of the former thermal power plant
that will be preserved and converted into downtown's highest residential
building. Where heavy industrial equipment still winds through the tower,
luxurious flats will be created by the end of 2012. These flats will not only
feature an, in some cases, 360 degree view over the entire city of Munich, but
all residents will also be offered access to a private spa and wellness area as
well as a concierge service, a benefit which is quite rare in Germany. Private
offices will also be available for interested individuals, making it possible
for them to work from home in an area that is in fact separate from one's own
residence. This luxury in the tower is available for square-metre prices
ranging between 8,000 and 20,000 euros. What might sound cheap compared to real
estate prices in New York, London, and Paris tops the charts in Germany. The
700 square metre penthouse with an all-round rooftop terrace in the top of the
tower is considered to be Munich's most expensive flat. But it is no longer for
sale. A Munich businessman has already secured the property for himself.
"Around 45 percent of the flats in the tower have already sold," says Roderick
Rauert, project manager with the second project partner LBBW Immobilien Capital

However, interest is not only geared towards the flats in the tower. Two new
buildings will also be built on the 14,000 square metre site: a four-storey
atrium with up to 56 luxurious city flats as well as a modern office and
commercial complex with approx. 8,900 square metres of gross floor space.
Prices of between 7,000 and 15,000 euros per square metre are being commanded
for the flats in the atrium building. For these prices residents will not only
get real estate that has been built according to the latest standards and
features high ceilings and a great deal of comfort, they can also enjoy views
overlooking a garden park and a water garden.

"The entire real estate concept is striking thanks to its unique location and
architecture. Furthermore, residents can enjoy the amenities of a 24-hour
concierge service, an integrated childcare centre, and an underground parking
garage with plenty of large parking spaces. In addition, 'The Seven' has also
been designed to include 6,000 square metres of green space – right in the
heart of downtown. And: just a short walk away are the banks of the Isar River,
a theatre, countless art studios, a world-famous Viktualienmarkt, and Munich's
shopping boulevard," Jörg Scheufele explains. "Investors know that there is
currently no other building project of this size, height, and exclusivity in
Munich in this kind of location," says Roderick Rauert, explaining the
tremendous interest. (

Please contact the PR agency for high resolution photo material and further


scrivo PublicRelations
Contact: Nadine Anschütz
tel: +49 89 - 54 89 14 08
Sales and marketing:
T + H Immobilienmarketing GmbH
tel.: +49 89-287 0099-0

<h1>BUSINESS WIRE: The Seven - Yesterday a Thermal Power Station, Today a Penthouse: Munich's Most Expensive Flat Has Sold</h1>
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