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Hamburg: Maas & Raffay plans office tower near Alster River

The Maas & Raffay real estate group wants to build an office tower in Hamburg, near the Alster River. Its main tenant could be Porsche. The project’s developer reported that negotiations with the automaker are well advanced. In addition to Porsche, talks were also reported to be underway with two other potential tenants. The location of the new "Hanse-Gate" building given over, according to its own announcement, to Maas & Raffay, will be on the site of the former industrial school on Lübeckerstrasse in the Hohenfelde district. Current plans are for a height of 18 stories, but apparently there are barriers to this in the city's policies. Coordinations are still being conducted, Hans-Werner Maas, co-owner of Maas & Raffay, told TD. Depending on the actual height, the firm wants to develop a gross floor area of 20-30,000 sqm for an investment volume of €50-60mn. In addition to the high-rise, a Porsche dealership with a 2,000 sqm showroom is planned. As the masterplan is still to be drawn up, Maas anticipates that construction will start in 2013, at the earliest.

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