Rockspring Property Investment Managers has completed the refurbishment of its 35,000 m[sup]2[/sup] Ostkreuz Center asset in Hamburg.

Rockspring Property Investment Managers has completed the refurbishment of its 35,000 m2 Ostkreuz Center asset in Hamburg.

The project was undertaken over a period of 18 months at a total cost of EUR 20 mln.

The property is located to the east of Hamburg and was originally constructed between 1976 and 1984. Rockspring acquired the 10-hectare site with 35,000 m2 lettable area from the Metro Group towards the end of 2010.

Ostkreuz Center comprises a 13,000 m2 Real hypermarket with 2,300 m2 new Real drinks hall, 4,200 m2 new Media Markt, 2,000 m2 mall and a 12,000 m2 Sconto furniture store. Additionally there is a petrol station, Pit Stop and a total of 1,500 new car parking spaces.

The property is owned by the Rockspring TransEuropean IV Fund, and forms part of Rockspring’s EUR 1.25 bn gross AUM invested in the German market. 'Rockspring continues to seek further significant investments in the sector with a number of potential acquisitions under consideration,' the company said in a statement.