Sonar Real Estate (Sonar) has acquired the “Australhaus” property in Hamburg in its function as investment and asset manager of a special fund administered by Institutional Investment Partners.
The building, which was completed in 1906 and modernised in 2015, has a lettable area of around 1,600 m². Of this, about 60 percent is office and practice space, the others retail and warehouse space. In addition to office users, tenants of the property are the Italian clothing brand Boggi Milano on the ground floor and a dental practice. The existing vacancy comprises approx. 600 m² of office or practice space as well as a retail space of around 150 m².
The five-storey listed “Australhaus” with its striking glazed brick façade is located in Poststraße, in the heart of the Passagenviertel between Gänsemarkt and Rathausmarkt. The property is very well connected to the entire public transport system of the Hanseatic city via the “Jungfernstieg” and “Gänsemarkt” stops.
“We are pleased that we have been able to secure this outstanding Hamburg Kontorhaus in a prime inner-city location for an institutional mandate with a long-term holding horizon and that we will leverage further earnings and value development potential through active value creation strategies,” comments Matthias Gerloff, Managing Partner of Sonar Real Estate responsible for the German institutional business.
Sonar was legally advised on the transaction by Jebens Mensching PartG mbB and on technical and environmental issues by TA Europe. CBRE brokered the transaction, while JLL was commissioned to provide commercial advice on the buyer’s side.
