Between May and August 2018 Grossmann & Berger, member of German Property Partners
(GPP), brokered transactions totalling over €50m in which rental apartment buildings in Hamburg passed into new ownership.
One such transaction was in Lokstedt
, where the property services provider acted for private investors. The piece of real estate in question was a multi-family home
with nine residential units and a living area of 630 m². Standing on some 1,080 m² of land, the property also has nine car parking spaces. An amount 30 times higher than the annual rent was paid for the building.
Between the Isebek Canal and Eppendorfer Landstrasse in the heart of Eppendorf
stands a multi-family house that was sold by a community of heirs. Constructed in 1900 in art nouveau style, the 31-apartment building was purchased by a family office. This multi-family home is a listed building offering some 4,470 m² of living space and it sold for a multiple of close to 40 times the annual rent.
Grossmann & Berger also placed a red-brick multi-family house
built in Eidelstedt
in 1959 with a developer. This house offering some 870 m² of living space and set on about 1,080 m² of land was sold by a private investor. Comprising twelve residential units, the multi-family house is located close to the centre of Eidelstedt district between Pinneberger Chaussee and the B4 main road; it sold for a multiple of 25.5 times the annual rent.
Another transaction in which Grossmann & Berger was involved was a multi-family house
in Hoheluft East,
set in a quiet residential area between Breitenfelder Strasse and Abendrothsweg. The transaction took place between private investors. Built in 1906 and divided into 15 units with a total living area of some 1,070 m², the property is fully let. The price paid represents 38.7 times the annual rent.
Acting for a private investor, Grossmann & Berger was able to sell an empty commercial building in Ottensen
. Property consultants at G&B brokered this imposing building dating back to 1899 to a developer. It stands on around 950 m² of land and has a lettable area of some 540 m².
On behalf of a community of heirs Grossmann & Berger found a buyer for a portfolio of three multi-family houses
. The three structures were built at different times; they provide a total lettable area of some 2,000 m² and are all located in an area covered by a social preservation order. An asset manager from Hamburg paid about 32.2 times the annual rent for the properties.
Image Source: Jenner-Egberts Foto+Film