Project for 300m euros: MOMENI buys Axel Springer head office

Deal | Hamburg

In a joint venture with Black Horse Investments, Düsseldorf, project developer MOMENI has purchased the publisher’s historic head office in Hamburg from Axel Springer SE.

In the course of restructuring, Axel Springer had already sold the “C” section of the complex in February to the City of Hamburg.

Now the 14-storey tower at Axel Springer Platz 1, which used to include Axel Springer’s publishing offices and is protected by a preservation order, has been sold, together with the extension between the highrise and the building owned by the City.

When the tower block – section “A” – has been comprehensively refurbished, the publisher will move back into the building. The extension – the “B” section – will be demolished and replaced by a new building.

This sale, and the transaction involving the City of Hamburg, was brokered by Grossmann & Berger. The seller’s consultants were Freshfields Bruckhaus Deringer and the buyer sought advice from Jebens Mensching.

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