News from the real estate network

The former office space in the Hamburg "counting house" district was no longer big enough. Therefore, this firm of Hamburg architects and planning consultants leased some 1,076 m² at Grosse Bleichen 21 via GPP member Grossmann & Berger.

The weak start to the year continued during the 2nd quarter of 2019 so that by the end of the half year some 60 agreements for take-up of space in Hamburg’s industrial, warehousing and logistics properties totalled 150,000 m². This figure is both 40 % below the same period of last year and the lowest total take-up on record.

The Frankfurter Bankgesellschaft (Deutschland) AG opened its Hamburg office in summer 2019. Grossmann & Berger identified a suitable site for the bank on Neuer Wall.

Within a few weeks time, GPP member Grossmann & Berger identified and brokered suitable premises in Blankenese for the second City Spa of the natural cosmetic brand.

New record figures on the market for investment in commercial properties in Berlin: Germany’s capital city reported by far the highest volume of transactions ever seen in one half year - the total of some €4.83bn was nearly twice that posted in the prior year (€2.45bn).

In the 2nd quarter of 2019 the market for investment in commercial property in Hamburg continued to suffer from the effects of the record set the year before. Around 42 transactions generated some €1.1bn in this comparatively quiet 1st half year.

The first half of 2019 has closed well, with office take-up in Hamburg some 60,000 m² higher than in the same period of the prior year. By the end of the half year a total of 310,000 m² had been reached.

The market for industrial, warehousing and logistics properties in Hamburg and its environs made a slow start to the year 2019, with 30 agreements generating take-up of 73,000 m². Year-on-year, take-up slumped by 23 % for the quarter.

The German capital has started the year 2019 with new record results. Investments in commercial properties totalled €2.2bn in the first quarter, which translates into an increase of 149 % against the prior year.

Figures from German Property Partners (GPP) show that 2019 started with sluggish trading in investment properties (excluding buy-to-let residential) in Germany’s top 7 cities - Hamburg, Berlin, Düsseldorf, Cologne, Frankfurt, Stuttgart and Munich - generating a transaction volume (TAV) of €4.85bn.