By STEPHEN RAE for AML Intelligence
EUROPE’s new AML Authority (AMLA) is set to be located in one of Frankfurt’s most iconic buildings, the 257 metre tall Messeturm Tower.
Officials are currently negotiating a lease for office space in the soaring office block, where rent is offered at €33 psqm, which would amount to €198,000pa for 6,000 sqm. The various German authorities are providing an average €2 million per annum over the next five years to cover the authority’s start-up costs – with a promise to review ongoing financial assistance.
“The Messeturm, an iconic landmark and one of Frankurt’s most recognised skyscrapers, is currently under negotiation to potentially become the home of AMLA’s future offices. Messeturm offers exceptional features, including direct access to the metro railway with its own underground station,” a spokesperson for AMLA told AML Intelligence.
The authority will be chaired by Italy’s Bruna Szego whose appointment will be ratified by EU governments later this month. She will be joined by five other members of an executive board overseen by a supervisory board of 54 regulators and FIU chiefs.
The building will make a pleasant change for officials joining from Brussels where Commission and agency buildings are usually housed in the EU quarter’s often window-less offices amidst the area’s “brutalist” architecture.
It should also be a draw for officials in national governments and may also attract European Banking Authority staff currently working in Paris’ La Defense area, which gets mixed reviews.
The Messeturm’s developers say the building “is probably the most striking skyscraper in the heart of Frankfurt am Main. With a height of 256.5 metres, the landmark is not only one of the tallest, but also one of the best-known buildings in Germany.”
The tower’s “pencil” design was created by well-known architect Helmut Jahn and built between 1988 and 1991.
Describing the recent refurbishment project, the developers say: “In the course of an extensive reload project, the building has recently been adapted to modern requirements and now offers not only state-of-the-art offices but also a wide range of services on more than 60,000 sq m. These include an elegant restaurant in the basement, a new café-bar with outdoor terrace and a new and elegant business and conference centre.”
In its pitch for AMLA, the German federal, state and city governments put the Messeturm forward as its first option: “The 63-floor Messeturm is a prominent landmark in Frankfurt’s skyline. Completely refurbished in 2022, it offers the highest standards that meet today’s requirements for a modern working environment.”
The German government also indicated that the block met many of the requirements made by EU authorities, including:
- Flexible workspace approach
- Sustainability certification
- 30 FIU offices + 3 operative analysis facilities
- Conference/meeting rooms of various sizes
- 1 large meeting room
As part of the agreement to locate in Frankfurt, the federal government, the state of Hesse and the city council are providing financial support to AMLA during its start-up period, “when AMLA will not yet be collecting fees from direct supervisory activities.”
This is in the form of “a lump-sum grant totalling an estimated €10 million would be provided that would be paid out over a five-year period. AMLA could use this fast-start financing to help cover, for example, rent costs and incidental expenses.”
Moreover, the various authorities also declared “their willingness to review the possibility of providing additional funding, if the legislation that ultimately establishes the legal basis for AMLA gives rise to additional financial needs.”
FACTS:
- COMPLETION DATE 1990
- ARCHITECT Helmut Jahn
- HEIGHT 257 m
- FLOORS 64
- BASE AREA 62,000 sqm
- ENTRANCE FOYER 15 m high
- FLOOR AREA 41 x 41 sqm
- 22 PASSENGER LIFTS
- DIRECT ACCESS TO THE
- UNDERGROUND RAILWAY in the building
- MULTI-STOREY CAR PARK with approx. 900 parking spaces below the Messeturm tower
- ACCESS CONTROLLED via turnstile system with card readers
- BUILDING CERTIFICATION – LEED-Silver, aiming for WiredScore Platinum
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