Aurelis Real Estate GmbH has taken over the former Michelin site in Karlsruhe from Michelin Reifenwerke AG. The plot, which covers an area of approximately 126,000 square metres in the Grünwinkel district, will be redeveloped in the coming years under the name “Profilwerk Karlsruhe”. A total of 74,300 square metres of rental space is planned for diverse uses, including production, technology-oriented companies, and logistics. The parties agreed not to disclose the purchase price conditions.
Aurelis plans to demolish a significant portion of the existing buildings and create a comprehensive offering of space on the site. This includes the conception of four large hall units, a business park with eight units, and the new product “Aurelis Ateliers”. The aim of the development is to establish a site profile that respects the industrial history of the area while simultaneously creating space for new value creation, jobs, and economic growth in Karlsruhe.
Integration and expansion of existing stock
Part of the original building stock will be retained. This includes the “Gewerkshaus”, a start-up and business centre for craft businesses and small manufacturing enterprises, which is operated by the Economic Development Department of the City of Karlsruhe. The Gewerkshaus is scheduled to commence operations this year. The City of Karlsruhe will thus remain present on the site as a tenant even after the change of ownership. Alexander Schmid, Managing Director of Aurelis Region Mitte, stated that the acquisition of this site represents a particular success for Aurelis, as sites of this size, industrial history, and established location rarely come onto the market, and interest was correspondingly high. He emphasised that Profilwerk Karlsruhe offers the opportunity to develop a modern business location with a broad range of available space.
Gabriele Luczak-Schwarz, Mayor for Economy, Science, and Finance of the City of Karlsruhe, highlighted the significance of the revitalisation of the former Michelin site for Karlsruhe as a business location. She described the development as an important signal that a previously commercially used area continues to offer space for companies and jobs, and welcomed Aurelis's long-term development intentions in the west of the city. Christian Metzger, Director of Site and Plant Karlsruhe at Michelin, explained that the sale concludes the process and paves the way for the further development and long-term use of the site, and that in Aurelis they have found an experienced and reliable partner who appreciates the industrial history of the area and will develop a sustainable future.
Flexible space offering and timeline
Profilwerk Karlsruhe aims to offer attractive development prospects to both companies with larger space requirements and medium-sized businesses. The business park envisages combinable units between 2,500 and 4,200 square metres for various uses. Additionally, the Aurelis Ateliers will create rental spaces from 200 square metres, complementing the existing Gewerkshaus of the City of Karlsruhe with further small-scale offerings. Torben Stieglitz, Head of Economic Development Karlsruhe, added that suitable commercial spaces are an important prerequisite for business development in Karlsruhe, as they meet very diverse needs, from small manufacturing operations to large enterprises. He explained that the planned development can sensibly expand the spectrum of available space.
The site has good connections to the regional and national transport networks. Via the B10, motorways 5 and 8 are quickly accessible, and the Rhine port of Karlsruhe is in the immediate vicinity. The demolition of the existing buildings is planned for this year. The start of construction for the new buildings is currently scheduled for 2027, with phased completion by 2029. Colliers advised and mediated for Aurelis in this transaction.
