The BÜRO DR. VOGEL GMBH was commissioned by the State of Berlin to draw up an economically resilient development concept for the reconstruction of the Schinkel'sche Bauakademie. Following a number of expert opinions and analyses that considered the different individual aspects of the reconstruction, a solid and comprehensive interdisciplinary study formed the basis for the real estate project development and reconstruction. It was originally planned to sell the property on the condition that the Schinkel Palais, which was formerly located there, would be reconstructed in accordance to the original, and that a part of this should be set aside for public use. In the past, however, there was insufficient investor interest for this project.
The development concept to be created by the BÜRO DR. VOGEL GMBH consisted of three different usage options with a view to mediating the economical optimum ratio of private commercial use and public use. This formed the basis for the marketing of the property at a reasonable purchase price and was devised to create incentives for a sufficient number of interested parties for a future bidding procedure.
The BÜRO DR.VOGEL GMBH initially created a total cost estimate which observed all monument protection concerns. In this way, the previously determined cost and income positions from investment and operation came to form a dynamic cash flow model. The conclusion of the investigation was the emergence of an organizational model that includes investment and implementation as well as the operation and the use of the property, taking into account the legal framework.
Result / Added Value
With the development concept from the BÜRO DR. VOGEL GMBH, the client received a plausible assessment of the overall construction costs and a sound statement concerning the efficiency of the three specified usage variants. Public and private-commercial areas and their usage opportunities were weighed up against one another. Based on economic and legal considerations, the client additionally received an organizational model for the reconstruction, regardless of whichever usage option would eventually be selected.
As a result, the client received all the necessary decision possibilities for the further strategic approach to the reconstruction of the Schinkel'sche Bauakademie and for the future marketing of the property.
Approx. €45 million