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LBBW Builds its Registered Office in the Mainz Customs Port

– Current news

The Rheinkontor will be located by the canals; the aim is to preserve the maritime nature of the former harbour area.

Mainz. Landesbank Baden-Württemberg (LBBW) has purchased a plot of land at the Mainz custom port to accommodate an office building covering 15,000 m². In 2020, their branches based in Mainz are to be housed there. At the same time, the bank confirmed the sale of its much larger office complex in the city centre.

LBBW is constructing an office property at Mainz customs port for approximately 70 million euros and intends to transfer its subsidiaries located in the city to this new location. Some 15,000 m² gross floor area will be created under the project name Rheinkontor. The bank, the city of Mainz and the customs port development company announced the acquisition of the 4,400 m² site Rheinallee V and the details of the proposed building. LBBW received legal service from HauckSchuchardt when purchasing the plot area.

The building application is expected to be submitted to Mainz Town Hall at the end of September 2017. From the first quarter of 2018, the bank intends to create the four to five-storey building at the north-west approach to the new city district. LBBW's subsidiary Rheinland-Pfalz Bank and several smaller divisions of the Group are expected to move from their current Mainz location Große Bleiche 54-56 to the new location mid-2020. The architectural practice msm meyer schmitz-morkramer based in Frankfurt is the designer of the property.

LBBW's subsidiaries will use roughly 70 % of the property. 4,500 m² are available for other office tenants of units between 190 and 2,250 m². Also planned are a day care centre, a company restaurant and an underground car park with 180 parking spaces. The building will be DGNB Gold-certified. Frank Berlepp, CEO of LBBW Immobilien, can imagine the Rheinkontor staying in the Group's portfolio or being sold to an end investor.

From Mainz LBBW and its subsidiaries serve the entire territory of the former Federal Republic beyond Bavaria and Baden-Württemberg. While presenting the Rheinkontor Peter Hähner, Managing Director of Rheinland-Pfalz Bank, confirmed that his institution sold the current site at Große Bleiche 54-56 in March 2017. A lease was agreed with the new owner, who does not want to be named, until the move to Rheinallee. LBBW Immobilien is already committed at the customs port as a developer of the office property Dock1-Mainz.

At the end of 2016, the media reported that the new owner of the 57.000 m² gross floor area would be a real estate fund that is planning long-term demolition and a combined office and residential area. Hähner confirmed that there were a number of vacancies in the complex and that redevelopment would not be economical compared to new builds.