Freshfields prematurely renews lease on Hamburg offices for a further 10 years


Deal | HH-Neustadt
26.04.2018


The multinational law firm Freshfields Bruckhaus Deringer has prematurely renewed the lease on their current corporate offices at Hohe Bleichen in central Hamburg, agreeing on a ten-year extension.
 
In the course of negotiations Freshfields Bruckhaus Deringer took an additional 850 m² in the office and commercial building at Hohe Bleichen 7 in order to extend their current 9,500 m² of office space. The property is owned by WestInvest ImmoValue, an open-ended property fund that is designed exclusively for institutional investors. In acknowledgement of the main tenant, this property is known in Hamburg as “Freshfields House”. This office and commercial building has seven floors, the ground floors being occupied by shops; it was built in 2009 and designed by Caspar Schmitz-Morkramer, architect from Cologne.
 
Freshfields Bruckhaus Deringer issued an exclusive mandate to Grossmann & Berger, property consultants, member of German Property Partners (GPP), who analysed the market in Hamburg and investigated the suitability of two other locations in the city. In 2009 Grossmann & Berger brokered the sale of the “Freshfields House” which Deka purchased from Cerep Libri, a Carlyle Group company.
 
“It would be hard to find a better location for such a prestigious law firm than this one in the heart of Hamburg’s business district,” says Matthias Reidock, property consultant for office lets, who has managed the Freshfields Bruckhaus Deringer account for many years. “Other law firms have come to this conclusion in the recent past and likewise secured premises closer to the CBD.”

Source photo: Manfred Zentsch, indigo/Deka

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