Silverton Announces Plans for the Revitalization and Rebranding of Kruppstraße 5 in Essen to "High Five"
Frankfurt, 06. September 2024 – During the annual "Innovation meets Real Estate" event hosted by the EWG - Essener Wirtschaftsförderungsgesellschaft mbH, in collaboration with Silverton Asset Solutions GmbH, a significant new project was announced: the office building at Kruppstraße 5 in Essen will be rebranded as "High Five," with detailed plans for its revitalisation now underway.
The Event: A Convergence of Innovation and Real Estate
Held at the Design Offices on the 19th floor of the RUHR Tower in Essen, the event was attended by around 100 guests. Andre Boschem, Managing Director of EWG, and Sebastian Steinert, Managing Director of Silverton Asset Solutions GmbH welcomed attendees. The event was officially opened with a keynote address by Mayor Thomas Kufen and moderated by Miriam Beul.
The highlight of the evening was the unveiling of the rebranding of the Kruppstraße 5 project in Essen. "Renaming it 'High Five' is more than just a new name – it symbolises a fresh start and the future transformation of this iconic landmark into a smartly reimagined, multifunctional building ensemble, offering maximum visibility and a credible promise of quality. The current somewhat reserved 'corporate identity' will give way to a new, exciting, and sustainable spirit with a prime address," explained Sebastian Steinert.
High Five: A New Era for an Architectural Icon
"High Five," an architectural landmark in the heart of Essen, was originally built in 1961 and served as the headquarters for RWE Deutschland for many years. Standing at 85 meters tall with 22 floors, it is the fourth tallest building in the city. Following its planned revitalisation, the building will offer flexible usage options across a total rental area of approximately 23,500 square meters and will evolve into a modern, vertical campus. Silverton acquired this landmark property as an operating partner alongside a fund managed by Tristan Capital Partners in 2021.
Keynotes and Panel Discussions on Industry Trends
In addition to the presentation of the revitalisation project, the event featured two high-profile panel discussions. The first talk, "Transformation – The Future of Office Real Estate," explored current trends and challenges in the real estate sector. Panellists included Sebastian Steinert (Silverton), Martin Harter (City of Essen), and Antonio Vultaggio (HPP).
A key takeaway was that the future reuse of office buildings should not be restricted by outdated thinking. Both property owners and planning authorities should work together to incorporate multiple uses within a single building and embrace the concept of neighbourhood integration. Additionally, planning regulations for existing buildings should not adhere solely to new construction standards. Instead, the protection of existing structures should play a more significant role in terms of economic viability.
The second panel, "Skills Shortage in the Real Estate Industry," addressed the growing shortage of skilled professionals and explored solutions to counteract this trend. Experts included Prof. Andreas Krys (EBZ), Andreas Hill (EWG), Dr. Silke Wechsung (Vonovia), and Thomas Grynia (Grynia Consulting).
The panellists emphasised that the real estate industry must convey to the younger generation that they have the opportunity to make a positive impact on society. They can help create new and sustainable living and working environments. The consensus was also that "employer branding" and targeted employee development are becoming increasingly important to attract, develop, and retain well-trained professionals within companies.
A Successful Event with Forward-Looking Plans
The event concluded with a "get-together" featuring finger food and drinks, providing attendees with the opportunity to network and exchange ideas. "Innovation meets Real Estate" once again proved to be an essential gathering point for industry decision-makers and a platform for discussions about the future of the real estate sector.