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SIGNA buys Gänsemarktpassage complex in Hamburg

SIGNA Real Estate

SIGNA has acquired the Gänsemarktpassage, a complex with a prime location between the popular Hamburg streets Gänsemarkt, Jungfernstieg and Colonnaden.

This centrally-located, urbane site has excellent access to public transport and is considered one of Hamburg’s most sought-after addresses for office and retail customers. A wide variety of national and international brands have their shops along Gänsemarkt and Jungfernstieg, two vibrant avenues in the pulsing heart of the city, while Colonnaden, the city’s oldest shopping street, links the Jungfernstieg with the Esplanade and Stephansplatz square. This acquisition gives SIGNA a unique opportunity to realise a large-scale development in downtown Hamburg.

At the moment, the Gänsemarktpassage complex has more than 15,000 m2 in lettable space with around 12,400 m² located in the 1979 extension and 2,600 m² in the two historic 1885 buildings facing Colonnaden Street. SIGNA plans to develop the site with high-quality office, residential and commercial units, which involves renovating and extending the two historic buildings.

Over the past few years, numerous revitalisation efforts as part of the Business Improvement District (BID) initiative have made the Gänsemarkt location more attractive, increasing new business as well as footfall in the area. The excellent access to the ÖPNV public transport network adds to the appeal: from the “Gänsemarkt” underground stop right outside the entrance, passengers can take the U2 line to the main railway station in less than 5 minutes, or travel to Hamburg International Airport in roughly 30 minutes.