HBB Group has acquired a mixed-use property at Fangdieckstraße 70-74 in Hamburg-Eidelstedt. The seller is a private individual. The property has been brokered by Catella Property Consultants. The parties have agreed not to disclose the purchase price.
The asset comprises circa 6,000m² of lettable space on a plot of 7,500m² and is let to three tenants. The complex of offices as well as factory and warehouse space is located in a medium-sized commercial area in Hamburg's west. The Eidelstedt railway station, which is within walking distance, and the nearby A7 motorway provide optimal connections to the city centre and the surrounding area.
"This property fits very well into our current investment strategy. We expect the quality of the location to improve significantly over the next few years," said Olaf Fortmann, Managing Director at HBB Capital Investors.
Diane Becker, CEO of Catella Property Consultants, commented: "The sales process has shown us how interesting this asset class is for very different investor groups."