Berlin, 28 October 2024 - The GBI Group has sold a residential and commercial property under construction in Hamburg-Harburg in a forward deal. The project was acquired by a private investor managed by a Hamburg-based multi-family office. The sale price of the property is in the double-digit million range. The project development is being implemented by the GBI itself.
The project is located in the pedestrian zone at Lüneburger Straße 4-8 in Hamburg-Harburg. It includes a seven-storey residential and commercial building with a total gross floor area of around 5,040 m². The space is divided into 3,051 m² of living space, which houses 64 modern city apartments, and 996 m² of retail space on the ground floor. The retail space offers potential tenants attractive opportunities in a high-traffic location, while the apartments, with their central location and modern amenities, offer the best conditions for urban living.
Construction began in August 2020 and is scheduled for completion in spring 2022. The aim is to create a property that not only impresses aesthetically and functionally, but also meets current standards in terms of energy efficiency and sustainability. The design also incorporated the materials and design language of the surrounding area, ensuring that the completed building blends in well and contributes to a successful urban development. prasch buken partner architekten bda are supporting the GBI with the design and planning.
Simon Behr, Chief Commercial Officer at GBI, says: “The successful completion of this transaction demonstrates the effectiveness of our strategy of developing high-quality real estate in sought-after urban locations and selling it to long-term investors. With this development, we are making an important contribution to strengthening the residential and commercial offering in a dynamically growing district of Hamburg. At the same time, we are offering the buyer a first-class investment opportunity with sustainable value potential.”
