ASB, the Workers’ Samaritan Federation (Arbeiter-Samariter-Bund, Landesverband Hessen e.V.), has agreed to purchase the Frankfurt School of Finance & Management campus at Sonnemannstrasse 9-11. Frankfurt School took the decision to sell the property at Sonnemannstrasse 9-11 so that it can cope more easily with rapid growth and the changing demands of business school education in new, more suitable premises. With this aim in mind, Frankfurt School is currently building a new campus at Adickesallee 32 in Frankfurt’s Nordend district. The new campus is due to open at the start of the 2017/2018 academic year.
“I am absolutely delighted that ASB is taking over our campus. Not only have we found a buyer, but also – and more importantly – a reliable partner,” was the enthusiastic reaction from Professor Dr Udo Steffens, President of Frankfurt School. “Because ASB and Frankfurt School are both actively involved in education, there was an immediate meeting of minds, based on a mutual understanding of our institutional requirements. So we have agreed a two-stage transfer. Our existing seminar rooms will be handed over on August 1, 2017, and ASB will take full ownership of all the remaining premises on December 31, 2017.”
Ludwig Frölich, First Chairman of ASB, explained the reasons for the purchase: “In acquiring the Frankfurt School campus, we have found an ideal property in a superb location where we can set up a high school – one of our strategic objectives. It meets all key criteria in terms of size, infrastructure, location and access to transport links. The fact that the Sonnemannstrasse campus is situated close to the River Main and the European Central Bank makes it even more attractive. We are very pleased and satisfied to be starting the New Year with such good news.”
Jörg Gonnermann, ASB Regional Manager for the Hesse region, added that “acquiring these premises from Frankfurt School represents a major step forwards in ASB’s plans for a new high school. Sonnemannstrasse is a perfect hub for education and continuing education. The neighbourhood already features an adult education centre and a night school, as well as the Bethmann School and Hoch Conservatory, so we’ll be moving into an inspiring environment. What’s more, the building is in excellent condition. And because it’s already being used as an educational institution, we can continue to make use of a number of key infrastructural components.”
The Workers’ Samaritan Federation has long sought premises in Frankfurt that would be suitable for the organisation’s single largest construction project to date – and Sonnemannstrasse 9-11 is the ideal location. Jörg Gonnermann listed the reasons: “The campus offers precisely the security and safety we need for our high-school students. The inner courtyard in particular is a veritable oasis in a major city; a place where games, events and meals can be organised in the open air. So the campus is a very good match for our educational ideas.” Now, helped by a team of educational planners, ASB has the opportunity to put the Erasmus approach into practice.
ASB and Frankfurt School have agreed that the terms of the contract will remain confidential.
Frankfurt School of Finance & Management: Development and Rationale
Frankfurt School built the Sonnemannstrasse campus in Frankfurt’s Ostend district in the late 1990s; the business school started operating from the new premises in the spring of 2001. Including the underground car park and basement, the gross floor area (GFA) comes to 12,518 square metres (nearly 135,000 square feet). By January 2015, Frankfurt School was employing 462 members of staff, with 1,500 students enrolled on various academic programmes. This rapid growth has meant that for some years, Frankfurt School has been obliged to rent additional office space and seminar rooms in neighbouring buildings.
During this period, Frankfurt School has evolved to become an internationally respected business school. Professor Dr Udo Steffens, President of Frankfurt School, explains what this means for the university’s day-to-day operations: “Many of the degree courses and programmes offered by business schools focus on case studies, which are generally discussed in small groups, for which you need suitable premises. What’s more, many students spend all day on the campus – not just studying, they also spend their leisure time together, organising various student initiatives, for example.” The new Frankfurt School campus in Adickesallee has been designed with all these needs in mind. It will also provide more long-term room for manoeuvre as the business school’s study and teaching requirements gradually change in the future. The new Adickesallee campus will give Frankfurt School a total GFA of 37,880 square metres to play with – over 405,000 square feet.
Professor Dr Udo Steffens also points out how much more attractive the new campus will be with on-site halls of residence for students. “We bought two plots of land from the State of Hesse for our new campus. One was the site of the former regional tax office, which is where we’re building the actual business school – complete with seminar rooms, refectory, Learning Centre, auditorium and offices. There are three existing buildings on the second, neighbouring plot to the west, two of which we have converted into halls of residence for students. So since autumn 2014, we’ve been able to offer students 248 rooms and seven apartments.” As Professor Steffens explains, “in view of the current housing shortage in the city, our new halls of residence mean we can give practical support to international students in particular.”