The Büschl Group announced on Thursday that it had not received any offers for the planned wholesale market hall in Munich. Despite multiple deadline extensions granted by the city, the developer was unable to find a final investor willing to finance the project.
Previously, the Hamburg-based Garbe Group had been granted exclusivity. Surprisingly, Garbe insisted on obtaining building rights for a general logistics center—contrary to the tender, which required a specific purpose for operating a wholesale market hall.
Büschl Offers the City Its Concept
Büschl had planned a 425-meter-long logistics center up to 30 meters high in Sendling. The Grünwald-based developer now wants to offer the city its four-year-old concept as a basis for further planning, according to the Süddeutsche Zeitung.
“The city can take over our plans at any time and implement them itself, or we can build the wholesale market for the city of Munich,” Büschl said. Various solutions are possible, including a leasing model. Büschl is also currently developing the Paketposthalle district in Munich, which includes two 155-meter-high towers.
Mayor Reiter Calls the Situation Bitter
The project has occupied Munich for almost a decade. After plans for a city-led construction failed, the city sought an investor solution. The Büschl Group, primarily known for residential construction, was long considered the most promising candidate and understood itself as a project developer that would initiate the project and then sell it to a potential operator of the wholesale market hall.
Munich’s Mayor Dieter Reiter (SPD) commented on Thursday: “It is extremely bitter that such a long process and the many political and public discussions now end without a tangible result.” Politics and administration will need to carefully consider next steps to prevent a similarly unsatisfactory outcome in the future.
The Greens in the city council also expressed disappointment. All parties had wasted unnecessary time. “It was a mistake that the CSU and SPD blocked a city-led project during a favorable budget situation,” said Christian Smolka, city councilor for the Greens/Rosa Liste/Volt. “All options must now be openly discussed without restrictions.”
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