Developer and operator of micro-living concepts International Campus Group (IC) has signed a purchase agreement for a planned apartment scheme to be developed on Wendenstrasse in Hamburg’s Hammerbrook district.
The scheme is being developed by Grundkontor Projekt, a company based in Unterföhring near Munich, sellers of the asset.
The project will consist of two separate parts of around 24,000 m2 gross floor area with separate entranceways, and will be split between the brands The Fizz and HVNS. Overall, it will provide for about 700 apartments (with 476 beds for students and 329 beds for working professionals) as well as extensive community areas including three rooftop terraces, more than 800 bicycle parking spaces and a dedicated underground car park.
In addition, about 2,000 m2 on the ground floor are to be earmarked for commercial rental units that are to be let to a bistro and gym, among others.
'Wendenquartier in Hamburg will be IC’s second major location in the port city after Stresemannquartier,' said Michael Stapf, chief investment officer of IC.
'From Wendenstrasse, it’s a walk of mere minutes to the Deichtorhallen art centre and the Elbphilharmonie concert hall. The fact that we were able to secure this large-scale project with roughly 800 beds — one of the biggest deals in this segment anywhere in 2021 — at such an exciting location via a forward deal illustrates our expertise and our expansion strategy,' Stapf added.
'In International Campus, we have found an accomplished partner for our Hamburg Wendenquartier scheme who is also familiar with large-volume project developments,' said Romeo Uhlmann, managing director and owner of Grundkontor Projekt.
'The original office building from the 1970s that occupied the site on Wendenstrasse has been demolished and we are now moving ahead with the foundation works and intend to have the scheme completed and open for occupancy by 2024,' said Rainer Nonnengässer, executive chairman of International Campus Group. 'The district of Hammerbrook is undergoing a transformation, as it is moving away from its obsolete basic business units and toward a mixed-use area.'
