TD News International Location: Hanover

Hanover: Baum to develop office quarter near airport

17/05/2019 Hanover Airport has awarded its “Sky City” real estate project to the Baum Group. A long-term leasehold agreement with Baum was notarized in April; handover of the property will be on July 1st. The Hanover-based developer’s first step will be to erect an office and commercial building on the approx. 17,000 sqm site on Flughafenstraße. [...]

Hanover: Start of construction for “Wasserstadt Limmer” with 1,800 apartments

17/05/2019 Construction work has begun on the “Wasserstadt Limmer” quarter on the former Continental plant site in Hanover, after a long lead time. Wasserstadt Limmer Projektentwicklung GmbH (WLEG), in which Volksbank BraWo and Günter Papenburg AG each have a 50% stake, has plans for 1,800 apartments to be built in ten years time, 550 of themby [...]

Beos fund takes over Hauptgüterbahnhof in Hanover

26/03/2019 Beos is acquiring the Hauptgüterbahnhof in Hanover for its open-ended real estate Spezial-AIF “Beos Corporate Real Estate Fund Germany III”. The seller, Aurelis Real Estate, has partially demolished and modernized the property since 2017. The 19,000 sqm lettable space on the former freight yard on Weidendamm 2 are currently 88 % leased. The Hauptgüterbahnhof complex [...]

Hanover: Getec acquires properties from JP Morgan and Strabag

22/03/2019 The Magdeburg-based Getec Group has begun to build a “relevant real estate portfolio” with the acquisition of several buildings in Hanover, including the property at Joachimstraße 8 last October from JP Morgan. Deutsche Bahn will move out of the 20,000 sqm property, after which it will be converted and let to a municipal authority in [...]

Hanover: Intown to sell Ihme-Zentrum to Sapinda company

08/03/2019 Intown intends to dispose of the Ihme-Zentrum, a 110,000 sqm office, retail and residential complex in Hanover. A sale agreement has been signed with the Luxembourg-based Civitas Property Group; the transaction is expected to be concluded by the end of May. Civitas, according to their website focussed on residential, is an indirect subsidiary of Sapinda [...]

Hahn to modernize retail park near Hanover, let 4,120 sqm

30/11/2018 The Hahn Group intends to revitalize and expand a 1985 retail park in Garbsen, near Hanover, starting in the 2nd quarter of 2019. A German pension fund is investing in the Spezialfonds, which is managed by Hahn. The new tenants – TK Maxx, dm-drogerie markt and Siemes-Schuhcenter – have concluded long-term leases for a total [...]

Verdion plans cold store near Hanover with British investor

23/11/2018 The British investor Tritax EuroBox says it is taking over the development of a distribution facility from Verdion. The facility is to be built on a parcel of land in Wunstorf, 20 km from Hanover, and has been pre-let to Havi Logistics GmbH. Tritax is financing the project, subject to the building permit which has [...]

Toy retailer Smyths Toys builds logistics center near Hanover

16/11/2018 The Irish toy retailer Smyths Toys Superstores has just turned the first sod for its new Northern European headquarters and logistics center, according to the business assistance agency Deltaland Wirtschaftsförderung mbH. An approx. 50,000 sqm logistics warehouse and office wing is currently being built on 10.7 hectares in the “A27Park Walsrode” commercial district. Bauwo Grundstücksgesellschaft [...]

Hanover: Austrian firm builds 13,000 sqm of office space on Expo site

12/11/2018 Riegler & Partner, based in Graz, is planning the construction of 13,000 sqm of office space on a section of the former Expo grounds in Hanover. The project also includes an underground parking garage with 84 parking spaces. Hanova is the seller of the 5,700 sqm project site, located at the southern end of Chicago [...]

Logistics investor Tritax enters German market with acquisition near Hanover

31/10/2018 British logistics investor Tritax EuroBox is buying the new Action distribution center in Peine near Hanover, its first property in Germany. The purchase price of €81.6mn (excluding purchaser’s costs) corresponds to an initial net yield of 4.8 %. The seller is developer Dietz AG, who is keeping a small share of the asset. Knight Frank advised [...]