Sale of part of Axel-Springer complex brokered

Deal | Hamburg

The Free and Hanseatic City of Hamburg has purchased part of the Axel Springer complex of buildings, for which it paid Axel Springer SE €130.6m. Grossmann & Berger GmbH acted as broker for this transaction.
The property, with usable space of around 55,000 m², is located between Kaiser-Wilhelm-Strasse 20 and Caffamacherreihe 3. The building was erected in the early 1990s.
This sale is part of a change of strategy by Axel Springer SE; the company needs less office space in the publishing stronghold of Hamburg, because the editorial departments of titles taken over by Funke Mediengruppe have moved to new offices. The listed highrise at Axel-Springer-Platz 1 remains the heart of Axel Springer’s interests in Hamburg. Currently, new options for the use of the middle building are being investigated.
The Hamburg-Mitte Borough Council will probably be the new occupant of the building complex. It is planned to hand the building over to the City on 1st January 2016.

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