Berlin, 9 January 2019 – SIGNA has acquired Gänsemarktpassage in Hamburg from MEAG, the asset manager of Munich Re and ERGO. The property is in a prime location between Gänsemarkt, Jungfernstieg and Colonnaden. “The site’s strong points include its central location, outstanding urban setting and excellent public transport links. It is also one of Hamburg’s most sought-after office and retail locations,” commented Timo Herzberg, CEO of SIGNA Real Estate Germany. “The acquisition of Gänsemarktpassage gives us a unique opportunity to implement a large-scale development project in the centre of Hamburg.” BNP Paribas Real Estate played an advisory role in the transaction.
Development of office, residential and commercial property
Gänsemarktpassage currently has around 15,000m2 of lettable space, with 12,400m2 in the new building, completed in 1979, and 2,600m2 in the two historic buildings on Colonnaden, which date back to 1885. SIGNA plans to develop a high-end office, residential and commercial property. The existing buildings will be refurbished and extended.
Well developed location with excellent transport links
The quality of the location has been enhanced in recent years thanks to numerous upgrades as part of a business improvement district initiative, which in turn has attracted new businesses and generated increased footfall. The site also has outstanding links to the city’s public transport network, and the U2 underground station Gänsemarkt is directly in front of the property. The central railway station is only five minutes away on underground line U2, and Hamburg’s international airport can be reached in about 30 minutes.
Founded in 1999 by entrepreneur René Benko, the SIGNA Group is a privately managed, industrial holding company operating in the real estate and retail sectors. The group has real estate assets worth more than EUR 14 billion and development projects with a gross asset value of over EUR 8 billion, making it one of the leading property investors in Europe. The SIGNA Group also operates several high-profile retailers with a total of over 45,000 employees and revenue in excess of EUR 7 billion, with online retailing accounting for around EUR 750 million of the total.
The SIGNA Real Estate Group is one of the largest real estate investors in major European cities such as Berlin, Hamburg, Munich and Vienna. It owns numerous landmark buildings in prime locations, including KaDeWe and the Upper West Tower in Berlin, Goldenes Quarter with the Park Hyatt Hotel in Vienna, Alte Akademie in Munich, and Alsterhaus and Alsterarkaden in Hamburg.
The SIGNA Retail Group brings together five independent retail platforms: SIGNA Premium, the SIGNA Department Store Group, SIGNA Home & Lifestyle, SIGNA Food & Restaurants and SIGNA Sports United, continental Europe’s top sports e-commerce platform.
Over the past few years, each of these has made a decisive contribution to the SIGNA Retail Group’s strong growth in Europe. With around 320 locations in premium city-centre locations and more than 100 webshops in 20 countries, SIGNA Retail is one of the leading retail platforms in Europe.