Unilever is sole tenant of new building project Neue Burg in Hamburg
Hamburg, 26 March 2019. The project developers at QUEST Investment Partners have signed a multi-year lease with Unilever for the “Neue Burg” building in Hamburg’s Nikolai district. The consumer goods group will be taking over the entire area of around 6,500 m² for its German headquarters, making it the sole tenant of the nine-storey office building scheduled for completion in mid-2020. The building shell is currently under construction. Works on the façade and the interior are scheduled to begin in the middle of the year.
Planned by the architects Stölken Schmidt, the Neue Burg is being built on Hamburg’s historic nucleus. “Thanks to the slender, towering vertical lines and analogies in the choice of materials for the façade, the new building will fit perfectly into the surroundings of the adjacent memorial, St. Nikolai Church. We are pleased that Unilever Deutschland has made a long-term decision in favour of our project development and the Hamburg location,” says Theja Geyer, Managing Partner at QUEST Investment Partners. The project developers had acquired the site Neue Burg 1 from HIH Projektentwicklung GmbH.
Neue Burg 1 is located in Hamburg’s Nikolai district, the largest inner-city European Business Improvement District (BID) with a project volume of EUR 9.3 million. It runs from the Chamber of Commerce to Rödingsmarkt and from Alter Wall to Willy-Brandt-Straße. Within the time frame of the BID from August 2014 to July 2019, various measures have been and will be implemented to convert the site back into an attractive retail and office location in downtown Hamburg.
Cushman & Wakefield LLP (Germany) acted as brokers and the law firm Jebens Mensching PartG mbB as legal advisors.
About QUEST Investment Partners
QUEST Investment Partners is a real estate project development and investment company with offices in Hamburg and Berlin. QUEST focuses on investments in commercial and residential properties with upside potential in top locations of major German cities. In retail developments the focus is on good inner-city locations in German metropolitan regions. The QUEST team has extensive experience in the development of high-quality real estate projects and continuously aims at increasing the real estate values of its shareholders and investors. QUEST’s shareholders are the managing directors Theja Geyer and Jan Rouven Künzel as well as the investment holding company of the Hamburg entrepreneur Erck Rickmers who is invested in real estate, equity investments and shipping.
