Quartier sells five further projects of new urban district (DE)

The project company Quartier 21 has sold five further projects on construction lots 1, 4, 5, 6 and 8 of the new urban district. This means that 85 percent of the space has now been sold to private and commercial investors. The consortium made up of HOCHTIEF Projektentwicklung and HAMBURG TEAM Gesellschaft für Projektentwicklung is developing an entire urban district on the site of the former Barmbek General Hospital (AK) with living area, offices, retail and catering outlets, as well as childcare, fitness and healthcare facilities since late 2007. The contracting partners have agreed not to disclose details of the purchase price.


85% of the space has now been sold to private and commercial investors.

Integra Seniorenimmobilien, a subsidiary of Norddeutsche Vermögen Holding will be constructing and operating a nursing care home with a gross floor space of 7,200 m² on construction lot 1. To do this, a glass corridor will be used to connect an existing building with a new one. Overall the complex will have a gross floor space of almost 4,500 m². The former hospital administration wing on Rübenkamp on construction lot 4 was sold to a commercial investor. The building is being extended and will have a gross floor space of almost 4,500 m². Around 3,300 m² of residential space are to be created here by mid-2012. The three hospital pavilions on construction lot 5 have also been purchased by a commercial investor. These listed buildings with a gross floor space of a good 7,100 m² will be converted into 44 rental apartments with a total living area of 4,750 m² by the end of 2011.

The former service building with its historic water tower on construction lot 6 was sold to the real estate company IDEM Haus. From the end of 2011 the building, which has a gross floor space of 8,760 m² will house a spa, a children's daycare center, catering and retail outlets and offices. The three listed houses on construction lot 8 with a gross floor space of just under 5,500 m² have been sold to private investors. By mid-2011 the existing buildings will be converted into 39 residential units with a total living space of 3,900 m².

"Within only one year, we have been able to market 85% of the site. That speeds up development enormously because it means that work can proceed at nine construction sites at the same time," is the satisfied comment from Matthias Tscheu, head of the North branch of HOCHTIEF Projektentwicklung. "If we continue at this pace, Quartier 21 will be completed one year ahead of schedule," adds Peter Jorzick, managing partner of HAMBURG TEAM Gesellschaft für Projektentwicklung. "All parties involved will profit from that."


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