Pirelli RE sells business premises in Hamburg Blankenese (DE)

Pirelli RE has sold the 'Gossler's Park' business premises to Paribus, Hamburg, effective as of September 1, 2009. The sale price for the building in Hamburg-Blankenese is €15.8 million.

"The multi-purpose mixture of tenants from the retail, office, medical and residential sectors, combined with the Hamburg Blankenese location, ensures the investor long-term of continuous good returns," says Paolo Bottelli, Direttore Generale von Pirelli & C. Real Estate SpA., explaining the advantages of the Hamburg property. "That was the decisive factor for Paribus's acquisition."

The development, realization and letting of the project by Pirelli RE following completion in 2008 were defining for the central redevelopment and upgrading of Hamburg's Blankenese district which reached its summit with the actual overall development of the project 'Blankenese Station Square' by Pirelli RE, with a 25,000 m² letting area.

"Gossler's Park also scores, besides its heterogeneous utilisation concept and the very high quality of its tenants, with its attractive location in a growing part of town with considerable purchasing power," Dr. Johannes Stahl, Managing Director of Paribus Real Estate GmbH,, Hamburg, also emphasises.

The architecturally attractive business premises, with around 6,000 m² letting area and 45 parking spaces located in a central corner, merges harmoniously into the existing development because of the incorporation of historical stylistic elements and enhances the centre and station area of Blankenese, also because of the diverse tenancy structure. The Dresdner Bank, the Budnikowsky drugstore, the Hamburg public library, a large pharmacy and various office tenants, various doctor's surgeries, a kindergarten and the offices of a charitable social service are some of the tenants at Gossler's Park.

Source: Business Network Berlin

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