International Public Partnerships buys Frankfurt cop shop – International Public Partnerships Limited has entered into a binding commitment to acquire a stake in the new public private partnership police centre of South-East Hesse in Offenbach.
International Public Partnerships has committed to invest c.EUR8 million for a 45% shareholding in the project.
The project has been procured by the Federal State of Hesse, through the Department of Real Estate Management. It is anticipated that the police centre will take 2.5 years to construct after which it will have a 30 year operational term.
The centre will provide a headquarters to the police in South-East Hesse in Offenbach which is approximately 5 km from Frankfurt. It includes office space, meeting areas, a cafeteria, police station, cells, nursery, multi-purpose hall, parking deck and outside facilities on a c. 37,000 sqm piece of land accommodating c. 800 staff. The gross floor area of the centre is 67,472 sqm and includes 700 car parking facilities.
Subsidiaries affiliated with Goldbeck GmbH will act as construction contractor and will also assume responsibility for financing during the construction period. As such INPP’s financial commitment will not come into effect until satisfactory construction completion, anticipated to occur in mid-2020. Goldbeck Public Partner GmbH will provide ongoing facilities management services to the project.
INPP : International Public Partnerships buys Frankfurt cop shop