Covivio has revitalised its existing property Quartier am Zeughaus, a historic brick building from the 1920s, into a modern educational location for IU International University of Applied Sciences. In a central location near the Hamburg-Eppendorf Hospital, a new location for Germany's largest university has been built on around 6,700 m², which will now be used primarily for university operations. The lease with IU was concluded in 2023 and has a term of ten years. BNP Paribas Real Estate GmbH acted as an intermediary in the leasing of the space to IU, and GrayCap Asset Management from Hamburg provided support as an advisor.
The Quartier am Zeughaus is an example of how historic buildings can be adapted to changing user requirements. For IU, Covivio has tailored the interiors specifically to the requirements of university operations without losing the characteristic loft elements such as the typical column construction: flexible partition walls enable different room layouts for learning, recreation and administration areas. New floor coverings create a harmonious overall picture and the sanitary areas have been completely renewed. Green terraces offer additional places of retreat and meeting places for students and teachers.
Katharina Greis, COO Office at Covivio Germany, says: "For us, the transformation of our portfolio towards sustainable and long-term use also means ensuring flexibility of use. The keyword is living real estate. An excellent example of this is the expansion for IU – the conversion of classic office space into a modern educational location. The newly created rooms are characterised by a high level of space efficiency and enable individual learning and working concepts. At the same time, we have deliberately preserved the characteristic loft elements of the Quartier am Zeughaus in order to preserve the special identity of the building."
Kai Mielenhausen, Head of Infrastructure and Campus Development at IU International University of Applied Sciences, adds: "The new premises in Eppendorf offer an ideal learning environment in which studying is a pleasure. Spacious, light-flooded areas support our philosophy of self-determined and flexible learning in the best possible way. They are supplemented by terraces and green spaces, which open up attractive social and recreational areas for our students. In addition, the location convinces with its excellent connections to the infrastructure and public transport."
The Quartier am Zeughaus has a total lettable area of around 41,700 m² and unites tenants from different industries under one roof. The clinker brick building is only a few hundred meters away from the University Medical Center Hamburg-Eppendorf and offers very good connections to Hamburg city center and the airport. A sustainable mobility concept with e-scooters, car sharing and charging stations for electric vehicles complements the local infrastructure. The district itself is characterised by an attractive mix of living, working, gastronomy, shopping, parks and green spaces.
Currently, individual flexible office spaces are still available in the Quartier am Zeughaus and can be rented on request.
