Press Release European flight safety will continue to be monitored in Cologne

The European Union Aviation Safety Agency (EASA) is to remain in Cologne until at least 2046. This is a result of the new lease agreement which it has concluded with Commerz Real. The lat-ter’s open-ended real estate fund Hausinvest is the owner of the office complex “Neue Direktion” (New Directorate) at Konrad-Adenauer-Ufer 3 on the banks of the River Rhine. The headquarters of EASA has already been located there since 2016 on an area of 22,800 square metres. The name of the building refers to the railway administration company Königliche Eisenbahndirektion Cöln (Royal Railway Directorate Cologne), which was headquartered behind the historical façade from 1913 onwards, and through to 2001 as Deutsche Bahn. 

The building was fully refurbished from 2013 to 2016, when it was initially demolished in full with the exception of the facade. A totally new office building was constructed within this façade with the addition of historical details. Thus the stairwell and the entrance hall of the former railway company headquarters have been integrated into Neue Direktion. The new construction was crowned by three penthouse-type storeys surrounded by terraces enveloped by horizontal steel bands. This is intended to be a reminder of the contours of the mansard roof which was destroyed in the Second World War.

This is also paying off in monetary terms, according to Schüttauf. Since the acquisition in 2013 of what at the time was a construction project, the property has seen average annual appreciation of around four per cent, thus contributing to the positive overall result of the fund.

EASA was founded in 2002 and is responsible for ensuring the safety of aviation in Europe and its compliance with environmental protection measures. It employs over 800 staff from more than 20 European countries.