Warburg-HIH Invest Real Estate has acquired Campus Hamburg, a six-storey new-build office scheme located in the district of Barmbek-Nord, from vendor ECE. Currently under construction at Fuhlsbuttler Strasse 431, the office building will have a gross lettable area of around 26,000m² plus around 350 underground parking spots. The multi-tenant property will be anchored by two banks belonging to the French Societe Generale Group, who have signed leases for 15-year terms. About 12,180m² will be occupied by an automotive bank, Bank Deutsches Kraftfahrzeuggewerbe (BDK). Hanseatic Bank has rented about 8,110m². The completion is scheduled for spring 2022. It was agreed not to disclose the selling price.
“The property is characterised by its attractive location within a rapidly evolving submarket of Hamburg. By achieving a high level of pre-lets to strong tenant covenants, we managed to secure a stable and long-term cash flow even in the early phase of the property development. In addition, the building with its modern energy concept qualifies as a sustainable investment,” said Hans-Joachim Lehmann, Managing Director of Warburg-HIH Invest.
It is intended to seek a DGNB Gold certification for the Campus Hamburg office scheme. The property is located directly next to the future “Nordheimstrasse” underground stop (U9 line). The “Rubenkamp/City Nord” rapid transit station is a ten-minute walk away. From here, the commute to downtown Hamburg takes about 15 minutes. In addition to the great public transportation links, the property is also conveniently located for private transportation, halfway between the town centre and Hamburg Airport. The proximity to the green spaces of Stadtpark and to the City Nord office location lends an ambience of vibrant urbanity to the quarter. City Nord, which represents both an office district and one of Hamburg’s leading business centres, is home to more than 300 companies and the workplace of roughly 32,000 employees.