Warburg-HIH moves into Hamburg Altona warehouse scheme

Warburg-HIH Invest Real Estate has acquired a Hamburg development scheme from the the project's developer, Aurelis Real Estate.

Financial details were not disclosed.

Güterhallen is an historic warehouse complex of 15,846 m2, which forms part of the Mitte Altona neighbourhood development in Hamburg.

The listed warehouses are being transformed by Aurelis and have already been let in their entirety to occupiers from various industries. The central area of 5,146 m2, called Querbühne, 'will serve as a central retail hub for around 27,000 people,' said Hans-Joachim Lehmann, managing director of Warburg-HIH Invest.

Edeka Food Market will occupy the 3,651 m2 eastern warehouse, opening in spring 2019, while units in the western hall, covering 4,461 m2, have been let on long-term leases to the Boesner art supply store, the gym chain Kieser Training and several small-scale retailers.

Slated for completion by autumn 2020, Mitte Altona is one of the biggest urban planning projects in Hamburg, stretching over around 12.3 hectares.

Warburg-HIH said that the asset had been acquired for an individual fund.

Law firm Heuking Kühn Lüer Wojtek, HPC and the consulting partners Hamburg property development company advised Warburg-HIH.

Legal practice BRL Boege Rohde Luebbehuesen advised Aurelis.


Latest news

Best read stories