IVG Investment and IVG Development are launching a joint project in Hamburg. On a site of IVG Business Park Hamburg IVG Development will construct an office building and a parking garage for IVG Investment on a property owned by IVG Investment in the IVG Business Park Hamburg-Nord. The start of construction and the signing of the rental contract about the entire property with office and storage rental space of 9,300 m² with Hermes Logistik took place at the same time.
The building in the northern part of Hamburg will be constructed directly next to an office building which also is used by Hermes. The four-story building with an additional penthouse level will be linked to the existing building (also built by IVG) by a connecting wing. The new block of buildings is going to be used by Hermes as the new companies head office. In addition to the office building a parking garage will be built with approximately 360 parking spaces, of which Hermes will rent 120. The rental contract with Hermes will run for ten years.
Construction will begin early in 2009 and handover to the tenant is scheduled for the spring of 2010.