Savills Investment Management (Savills IM), the international real estate investment manager, has acquired a newly built logistics centre in Hamburg-Billbrook as part of an off-market transaction. The seller is ECE Work & Live, which planned, developed, realised and let the property. All parties have agreed not to disclose the purchase price.
The purchase is the first logistics transaction as part of an investment mandate for a German investor, which aims to build up a logistics sub-portfolio. The focus is on core properties in prime logistics locations. The purchase agreement has been signed; completion is to take place by the end of the year.
The Grade A logistics centre in Hamburg-Billbrook, which was completed in September 2024, consists of three units and comprises a total of around 28,600 sqm of rental space, which is fully let to Pandora and Kühne + Nagel on a long-term lease. The property can be divided into up to five rental units if required, ensuring a high degree of flexibility when it comes to re-letting.
The asset is built to high specifications and has excellent ESG credentials. It is built in accordance with the GEG 40 standard (Building Energy Act) using sustainable building materials and has a high level of energy efficiency. Thanks to a photovoltaic system on the roof and efficient heating systems, the building is carbon zero. Storage areas have natural lighting, and hall areas have optimised temperature control. The building’s high ESG standards are also reflected in its DGNB Platinum certification, which is currently being sought.
The Hamburg metropolitan region, one of the most competitive in Europe, is strategically located at the centre of the most important European transport axes between Scandinavia, Western, Eastern and Southern Europe. Germany’s largest port location is an important logistics hotspot thanks to its excellent infrastructural connections. Hamburg-Billbrook is one of the most sought-after logistics locations within the Hanseatic city and benefits from high demand for logistics space across all sectors, high-quality local infrastructure and excellent connections to the highway network and Hamburg city centre. More than 1,000 companies from over 20 sectors are located in the Hamburg-Billbrook submarket.
Savills IM was advised on the transaction by Luther Rechtsanwaltsgesellschaft mbH (legal and tax), apc consults (technical) and BNP Paribas Real Estate Consult (commercial). ECE Work & Live was legally advised on the sale by Taylor Wessing (Fenge / Heim team).