Warburg-HIH Invest Real Estate just acquired the fully occupied stapelWERK campus in Hamburg. The area, which is located at Meiendorfer Strasse 205, was sold by aurelius Meindorf GmbH. The scheme located on a site comprising 50,000m² offers six buildings with a lettable area of more than 26,500m², suitable for offices, research, light manufacturing and storage. Four of the buildings, which were constructed or underwent core-and-shell refurbishment between 2016 and 2020, are home to eleven tenants. The weighted average remaining lease term (WAULT) is about nine years. Main tenants on long-term leases are Minebea Intec GmbH, one of the leading makers of industrial scales, and the employment office of the Hanseatic City of Hamburg and of the Labour Agency. Among the other tenants are the German Red Cross, Asteelflash Design Solutions GmbH, Preussen Elektra GmbH, Moritz Keller GmbH and Testo Industrial Services GmbH. It was agreed not to disclose the selling price. The transaction took the form of a share deal.
“The business campus is characterised by a great location and a diversified mix of high-net-worth tenants. The existing premises are of a type that is hard to find on the rental market and, unsurprisingly, in strong demand as a result. Characteristic features include high floor loads, large connected floor plates on the same level, goods lifts within the rental units and high clear ceilings,” said Hans-Joachim Lehmann, Managing Director of Warburg-HIH Invest. “Moreover, the site offers considerable development potential. The effective local development plan permits a gross floor area of around 79,000 square metres, of which only around 26,500 square metres have been realised so far.”
The campus is conveniently accessible, being located next to the A1/B75 motorway, which is evolving into the main trunk road for the Fehrmarn Belt Fixed Link currently under construction. It takes 30 minutes by car to commute to the inner city of Hamburg and around 20 minutes to the airport. The nearest bus stop is 700 metres away.
