CBRE Global Investors has acquired the iconic Hanseviertel mixed-use building ensemble in Hamburg’s historic centre from Allianz Lebensversicherungs AG. The purchase price was not disclosed.
With a combined GLA of ca. 38,850m², the Hanseviertel consists of a shopping arcade, several high street units, a 205-room Renaissance Hotel (Marriott Group),14,400m² office space, and 15 residential apartments. The building is almost fully leased, with around 40% of total income derived from the retail part. The anchor tenant of the office space is the City of Hamburg, with over 6,000m². The property also includes a public parking garage, operated by APCOA, with 440 parking spaces. A further 160 private parking spaces are located in an additional underground garage and in the courtyard.
Prominently located at the corner of the Poststrasse and Grosse Bleichen high streets, Hanseviertel is one of the best-known shopping destinations in Hamburg’s historic city centre. The 1.5 ha plot includes several historic buildings and postmodern structures developed by Allianz Real Estate at the beginning of the 1980s. The shopping arcade was the first roofed arcade to open in Germany at the time. It received critical acclaim for its design, combining classical arcade features with traditional Nordic brick stone, as well as several national and international architecture prizes.
CBRE Global Investors was advised by CBRE and Linklaters, while Allianz Real Estate Germany was represented by JLL and BLP (Berwin Leighton Paisner LLP).
