Foundation of Station Mitte GmbH
08.03.2024
At its meeting on March 6, the city council decided to take the first important steps towards the development of the former Kaufhof building in Offenbach's city center into the new "Station Mitte". It was only in February that the city council passed a resolution in principle to acquire the building and plot as one of the most important properties in the city center. The "Station Mitte", a new learning, cultural and meeting center with a city library and event hall, is to be built there in the middle of the city center. The current resolutions concern the founding of the municipal company "Station Mitte GmbH", the financing model for the purchase and conversion of the property. The final decision will be made by the city council at its meeting on March 21. The magistrate has entrusted Andreas Herzog with the management of the new company.
Lord Mayor Dr. Felix Schwenke emphasizes that Station Mitte combines two very important goals for the people of Offenbach:
Lord Mayor Dr. Felix SchwenkeWe are creating better educational opportunities for children and ensuring high-quality use right in the heart of our city center.
At the new location, the city library will be expanded into a modern educational facility with considerably more services for all citizens. "What is particularly important here is that we are improving access to knowledge and education for children and young people who have limited opportunities to learn at home. The project is therefore not just an abstract educational project, but also makes an important concrete contribution to equal opportunities. The PISA studies show time and again how important this is." At its current location in the Büsingpalais, the urgently needed modernization and expansion of the city library is not possible. "We are deliberately not enlarging it anywhere in the city, but by relocating the facility to the Kaufhof building, we are deliberately revitalizing the city centre, which needs new services."
Paul-Gerhard Weiß, the city councillor responsible for the city library, also welcomes the magistrate's decision:
City Councillor Paul-Gerhard WeißThe city library has long since ceased to be a place where only books are borrowed. It is a place of creativity, learning and exchange.
Digital media such as e-books, online databases, e-learning and streaming services are becoming increasingly important and technical advances such as 3D printing and artificial intelligence are opening up new opportunities and challenges for imparting knowledge, education and skills. "Young people, but also adults, can acquire new skills there, including in dealing with digital media. This is of great importance in an increasingly confusing media world. In addition, the demand for a quiet place to learn and study as well as for events to promote reading has risen steadily in recent years. The library also needs more space for this. The Kaufhof property in a prime city center location enables us to improve all of these services," says Weiß.
With GBO Gemeinnützige Baugesellschaft Offenbach, the Stadtwerke Group is supporting this transformation process of the city library and city center: "Stadtwerke is part of the city of Offenbach. Our task is to participate in the central projects of urban development and to contribute to economic and social value creation in Offenbach," explains SOH Managing Director Peter Walther. "Station Mitte is an important flagship project for the future viability of the city center. As a partner and instrument for the city of Offenbach, we are contributing our expertise and resources to make this largest component of the city center's future concept a success," Walther continues.
The key points of the latest resolutions are:
With effect from March 31, 2024, GBO Gemeinnützige Baugesellschaft Offenbach GmbH is acquiring 100% of the shares in the previous property owner company (46 R-Vermögensverwaltungs- Unternehmensgesellschaft), which is still part of the Fokus Development Group. The company will then be renamed "Station Mitte GmbH Offenbach". The new "Station Mitte GmbH Offenbach" will be managed as an independent subsidiary of GBO in order to ensure a distinction from GBO's core business of residential construction. The purchase price for the shares in the company is EUR 250,000. In the next step, the newly founded Station Mitte GmbH acquires the property at a price of 12.75 million euros.
The establishment of the independent Station Mitte GmbH requires the appointment of a managing director. In Andreas Herzog, the city has opted for a managing director from the Stadtwerke Group who brings with him many years of experience and success as managing director of SBB and SFO from similar projects, such as overseeing the construction of the new stadium on Bieberer Berg and its rental to various users. Herzog will take on the role in addition to his previous management duties at SBB and SFO.
The conversion costs for the new learning, cultural and meeting venue are currently estimated at 22 million. The conversion work is to be carried out by a general contractor. A tender is planned for this. Based on the planned investments, Station Mitte GmbH expects rental income of more than two million euros per year. The city will pay the largest share from the municipal budget for the space of the future city library. The rental income will also come from commercial users in the basement, a planned bistro and the rental of the planned event hall.
The initial business case calculated by GBO for the use of the property assumes a useful life of 40 years after the refurbishment. Maintenance costs are included in the business case, as are risks due to possible loss of rent. The financing structure of the project was developed in close cooperation between the treasury and the municipal utilities. The overall financing of all costs incurred (acquisition, conversion , etc.) is to be financed 100 percent with borrowed capital. It is planned that the financing of the costs incurred in the Mitte station for the current year 2024 - until the completion of the overall financing - will be guaranteed by the Stadtwerke Group's cash pool.
