News from the real estate network

Despite the pandemic, the market for investment in commercial properties in Hamburg returned a strong 2nd quarter, closing with a transaction volume of some €2.0bn.

In Hamburg-Billbrook, Grossmann & Berger has brokered the sale of the industrial site at Liebigstrase no. 30. The construction company OTTO WULFF has bought the land.

As GPP member Grossmann & Berger reports, for the first time since 2009 take-up of industrial, warehouse and logistics space dipped below 400,000 m² to 355,000 m² although the 4th quarter was the busiest in the past year.

A very sluggish 1st half year on Hamburg’s market for investment in commercial real estate gave way to remarkably brisk trading in the second half. The year’s total of 120 transactions generated sales of some €4.3bn.

According to GPP member Grossmann & Berger, the total take-up of office space in Hamburg amounted to 545,000 m² at the end of 2019. Due to the low vacancies and the high land and construction costs the office rents have risen significantly.

A site measuring 93,000 m² has changed hands in Winsen (Luhe) near Hamburg. The previous owner, a real estate company, had awarded Grossmann & Berger an exclusive contract to broker the sale.

In Spring 2020, LUICELLA’S Ice Cream is opening their fifth ice cream parlour. Ice cream lovers will find the outlet at Osterstrasse 133 in the Eimsbüttel district of Hamburg. Grossmann & Berger brokered the lease.

GPP-member Grossmann & Berger has brokered the sale of an apartment block costing €2.2m and offering some 746 m² of rentable space in Potsdam-Babelsberg.

The label, having taken some 97 m² of space for their fair, in environment-friendly manner in Portugal produced ceramic wares, opens on November 23, 2019. GPP member Grossmann & Berger brokered the deal.

The Free and Hanseatic City of Hamburg has rented some 860 m² of office space in a town house on Mittelweg in Rotherbaum district for immediate use by the administrative department of the University of Hamburg.