Past performance is not a guide to future returns. An illustrative example. The presented asset is closed to new investors.
Overview
The last prime site in HafenCity, Hamburg, will be home to approx. 500 flats in total.
Within this area, Columbia Threadneedle Real Estate acquired what is certainly the most exclusive property on site with an unobstructed view of the famous concert hall Elbphilharmonie.
The property is a build-to-rent-model and holds residential and commercial units.
A total of approx. 15,900 m² of rentable space 147 high-quality flats and commercial space are being built. The building, planned to meet the HafenCity Gold standard will be completed by the end of 2024.
Background
HafenCity in Hamburg is probably the most attractive and modern urban development project in Europe. Now the most exclusive site, the Strandkai, is being built on. The location cannot be topped: water, harbour, concert hall (Elbphilharmonie).
- The investment offers capital preservation with a core risk profile. However given the great opportunity for value creation, the rental commitment can be cancelled after 15 years and a conversion into condominiums is possible.
- All flats feature a balcony with exceptional views of the waterfront.
- The property complies with the latest energy regulations.
Key metrics
Location
Strandkai 55 20457 Hamburg
Investment strategy
Mixed-use Trophy Asset / Core Investment
Sector
Mixed-use (residential & retail)
Gross leasable area
15,900 m2
Acquisition date
March 2017
Holding period
indefinite
Tenants: Residential / Retail
147 / 10
Insights
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