Schützenstraße 1a, Munich | 1905 | 27,000 m²
Historic Hertie/Tietz building in Munich city center, featuring 40,000 m² retail space and underground parking for 500 cars. Renovation halted; pre-approved plans emphasize cultural and architectural value.
Chronicles of this site
The former Hertie-Kaufshaus was built in 1905 according to plans by renowned Munich architect Max Littmann introducing a castle-like character with projections, gables, and dormers. The striking corner tower was complemented by an extension planned by Fred Angerer in 1971. It was renamed “Kartstadt München Bahnhofsplatz” in 2007 and part of the plans for the building ensemble “Corbinian”, planned by David Chipperfield Architects. Nevertheless the restructuring plans were stopped due to Signa’s insolvency in 2024. At the end of June 2023, the Karstadt department store located between Munich Central Station and Stachus officially closed its doors.
The SIGNA-Deal
In 2016 the real estate company RFR Holding bought the building from Signature Capital for €240 Mio, who shortly after entered into a 50:50 joint venture with Signa. In November 2017 Signa became sole owner of the building and until the closing of the Munich flagship location, charged around one million euros per month in rent. Since February 24, 2022, the entire property complex – including the historic Hertie building at Bahnhofplatz and the former Karstadt building – is owned by a Signa subsidiary. The seller was Hut Breiter’s real estate company, which sold the property for a double-digit million euro sum to „München Schützenstraße Immobilien GmbH & Co. KG“, a Signa entity. Only four months after the purchase, ownership of the entire area was transferred internally within the Signa Group to another company: Bahnhofplatz 7 Immobilien GmbH & Co. KG, continuing the group’s complex and layered property structure.
Why should you own this piece?
The historic building was part of a pre-approved redevelopment plan in one of the most frequented urban areas in Germany, where much of the costly demolition and early-stage restoration has been completed. Even if the flexibility might be limited due to the protected status of the building, the rich history of the building adds cultural value to the architectural landmark. An object convincing due to its sight which – due to the striking size of the vacant building – more and more sparks public interest. A future plan jet to unfold while its story is being conserved in a unique, everlasting digital asset.
*By owning this NFT, you are entitled to 0.000001% of the associated property. This NFT does not represent legal ownership of real estate or securities, but rather a digital collectible tied to the project’s vision.