TD News International Location: Hamburg

Hamburg: Commerz Real forced to rethink Burstah ensemble

17/08/2018 Commerz Real is experiencing serious difficulties with its plans for the Allianz site on Großer Burstah in the center of Hamburg. A company spokesman confirmed a report by the “Hamburger Abendblatt” stating that no general contractor has been signed because of increased building costs and price expectations. Negotiations with possible partners are ongoing, the spokesman [...]

Hamburg: Software company leases 1,570 sqm in Victoria Office

16/08/2018 GUS Deutschland, a software specialist for the process industry and logistics, has leased 1,570 sqm in the Victoria Office in Hamburg’s City-Süd district. The move into the office building at Heidenkampsweg 73-79 is scheduled for the beginning of 2019. The property has been held jointly by two property funds of La Francaise since the end [...]

Hamburg: Akquinet leases 12,000 sqm in Bramfeld office project

15/08/2018 Developer Evoreal has signed the IT consulting firm Akquinet as the first tenant for the office project “Bramfelder Spitze” in Hamburg. Between Bramfelder Chaussee and Werner-Otto-Straße, and along Moosrosenweg, Evoreal is planning a mixed quarter on a 25,000 sqm lot. The new quarter will include an office building with 21,000 sqm GFA designed by architecture firm [...]

Hamburg: Warburg-HIH buys “Hanse Forum” for €100mn

02/08/2018 Standard Life Investments is selling the 15,000 sqm office building “Hanse Forum” in Hamburg to Warburg-HIH. The €100mn purchase price corresponds to a multiplier of 26.4. The building is at 96% occupancy; its main tenant is WeWork, which signed a 20-year lease for 7,800 sqm in 2017. Eastdil advised the seller. Warburg-HIH is putting just [...]

Rent growth again on upward trend in three large cities

25/07/2018 In Hamburg, Frankfurt, and Leipzig, the increase in quoted rent prices has gained new momentum during the first half-year. With growth rates of up to 7 %, the five-year average was clearly exceeded, as JLL determined in an analysis. In Berlin, Düsseldorf, Cologne, Munich, and Stuttgart, by contrast, growth of rent prices is still slowing. After about 7 % the previous [...]

Hamburg: Ditting and Gred building 120 apartments in Oxpark

25/07/2018 Ditting Bau and Gred GmbH, founded only this year, will develop the last two lots of the Oxpark quarter in Hamburg-Langenhorn. Both companies have received confirmation from the city for an exclusive option period for the 9,000 sqm of the landmarked laundry facility. The structure is to be converted to house 14 apartments and some [...]

Hamburg: Allianz and Quest buy Überseehaus

20/07/2018 Allianz and Quest Investment have acquired the “Überseehaus”, located at Baumwall 5-7 in Hamburg, from the Blackstone subsidiary Officefirst. The office property was built in the 1980s and has 11,300 sqm of space, most of which is let. The nine-story building, in a prominent location with views of the Speicherstadt, Elbphilharmonie and Hamburg harbor, is [...]

Hamburg: Major logistics leases in the 2nd quarter

20/07/2018 Several major contracts have recently been signed in the Hamburg logistics market. Kühne + Nagel has rented 21,900 sqm in the Goodman Hamburg III Logistics Center on Moorburger Bogen, and Nord Logistic has rented 21,500 sqm in the Goodman Hamburg II Logistics Center on Altenwerder Hauptstrasse, according to market reports by BNP Paribas Real Estate, [...]

Hamburg: Art-Invest buys planned Ibis Hotel in Barmbek

16/07/2018 Art-Invest Real Estate has acquired the planned Ibis Styles Hotel in Hamburg-Barmbek for its “Core Budget Hotel-Fonds”. The 188-room hotel on Fuhlsbütteler Straße 32-46 is being developed by Tamm Immobilien and is scheduled to be completed in 2020. It is leased by Success Hotel Group. Art-Invest was legally advised on the transaction by Kolaschnik Partner, technical [...]

Hamburg: ÄVWL and Hines buy Olympus headquarters

12/07/2018 Ärzteversorgung Westfalen-Lippe (ÄVWL) and Hines have acquired the Olympus Campus in Hamburg. ÄVWL is acting as main investor, with Hines as investment manager and future asset manager of the property. As reported, project developer Zech and Olympus have just laid the cornerstone for the new 47,000 sqm of office space, of which Olympus will use [...]