Hamburg: Gänsemarkt-Passage goes to Signa

09/01/2019

In the bidding process for the Gänsemarkt-Passage in the center of Hamburg, the contract went to Signa. Former owner Meag had put the large complex with 15,000 sqm lettable retail and office space up for sale in the summer, advised by BNP Paribas Real Estate. According to TD research, the purchase price was nearly €120mn. Apart from Signa, developer ABG, who is demolishing and rebuilding the neighboring Deutschlandhaus, was in the final round. Signa is also planning to replace the Gänsemarkt-Passage with a new structure, which will contain retail, restaurant, and office space but also a significant portion of housing space at the city’s request. The Austrian firm has already acquired the nearby Alsterarkaden and the Kaufmannhaus from RFR.


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