Hamburg: Kolbenhöfe investors take over neighboring quarter
The owners of the Kolbenhöfe quarter in Ottensen, Otto Wulff Projektentwicklung, Rheinmetall Immobilien, and Altonaer Spar- und Bauverein (Altoba) have acquired the Henkel-Schwarzkopf site adjacent to the Kolbenhöfe. Sellers of the 17,600 sqm lot, which is part of the same zoning plan, are ABG Group and Köhler & von Bargen Group. The transaction was supported by JLL. Both projects follow the urban planning concept of developing housing, craftsman’s businesses, and offices in direct vicinity to one another. ABG and Köhler & von Bargen had agreed with the district to plan 255 housing units on the Henkel-Schwarzkopf site, of which 85 are cooperative apartments. These are now being built by Altoba. This merger brings the planned Kolbenhöfe quarter to 54,000 sqm and 680 apartments, at least one third of them subsidized. Construction is scheduled to start in 2019 and finish in 2022/2023.
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