Hamburg, November 6, 2019 – SIGNA Development Selection AG has acquired the historic FlüggerHöfe building ensemble in Hamburg. “The FlüggerHöfe have lain dormant for many years and offer a unique opportunity for a respectful revitalisation in the heart of Hamburg,” says Timo Herzberg, CEO SIGNA Real Estate Germany. “This dynamically developing location creates the potential for an interesting building development.”
The FlüggerHöfe consist of four different buildings with a rental area of around 8,600 m2. The buildings, built in 1888, 1908 and 1937 respectively, are connected by a sizable inner courtyard. At this time, the former Flüggerhaus and the former Hamburg Sparkasse headquarters are mainly used as offices. There are areas for retail trade on the ground floor. Together with the centrally located residential and commercial building, the ensemble makes an impressive appearance with its brick facades, which are typical of the Hanseatic city, and its location in Fleet City between Alster City and HafenCity.
Due to its central location, the site has an excellent connection to public transport facilities. The “Rödingsmarkt” underground station of the U3 line is located directly in front of the FlüggerHöfe. The main railway station is less than six minutes’ drive away, and Hamburg International Airport can be reached by car in around 30 minutes.
The SIGNA Group, founded by Austrian entrepreneur René Benko in 1999, is a privately owned investment company with a focus on the real estate, retail and media sectors. The group is one of Europe’s leading real estate investors with a portfolio of unique assets in prime locations.
With a current project volume of € 9 billion spanning 10 locations in Austria, Germany, Italy, Switzerland and Luxembourg, the SIGNA Group is one of the most significant real estate developers. It is one of the dominant investors in the attractive real estate markets of Vienna, Berlin, Munich and Hamburg. At the beginning of 2019, the SIGNA Group decided to expand its real estate activities to the US market, and it acquired the legendary Chrysler Building in New York.