Hamburg: QUEST Investment Partners sells future HSBA headquarters to Real I.S.

Hamburg: QUEST Investment Partners sells future HSBA headquarters to Real I.S. 2400 1599 QUEST Investment Partners

Hamburg: QUEST Investment Partners sells future HSBA headquarters to Real I.S.

Hamburg, 08 October 2019. Hamburg real estate project devel­opment company QUEST Investment Partners has sold the nine-storey commercial property at Willy-Brandt-Str. 75 in Hamburg to a fund of the Real I.S. Group as part of a forward deal. The parties agreed not to disclose the purchase price. The building comprises 7,770 m² of rental space and has been under­going substantial refur­bishment since July 2019. The Hamburg School of Business Admin­is­tration (HSBA) is the new and sole tenant of the centrally located property. 

QUEST Investment Partners acquired the property with its former tenant Hamburg Süd in late 2016. After a nine-month conversion period, the inter­na­tional business school HSBA plans to open the doors of the new building to its approx­i­mately 1,000 students in time for the 2020 summer semester.

The property is currently being extended and converted to meet the needs of the university. Construction work is mainly focused on the inside of the building, whereas the façade remains largely unchanged. All floors are being gutted and fitted with new technology. The original construction was built by renowned Kontorhaus architect Georg Radel (1860-1948) at the beginning of the 20th century. At the end of the 1990s, the Hamburger Sparkasse savings bank had the building constructed in its current form, integrating the former Kontorhaus-style office building into the design.

Rödings­markt, one of the most important connecting roads between Hamburg city centre and HafenCity, as well as the historic Deich­straße street on the Nikolai­fleet canal, with its old timber-framed houses, are in the immediate vicinity.

QUEST Investment Partners received tax advice from Hansa Partner Rommel & Meyer and legal counsel from SNP Schlawien. BNP Paribas Real Estate acted as broker.

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 in Hamburg and Berlin. 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.

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