Savills Investment Management 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.
David Seydt, portfolio manager at Savills IM, said: 'We are very pleased that we were able to secure this high-quality logistics property with excellent ESG characteristics and long-term leases in a prime Hamburg logistics location for our investor off-market.
'Now is precisely the time to invest in logistics real estate on an anti-cyclical basis - the sector continues to benefit from stable fundamentals, and recent price corrections offer an ideal entry point.'
Henrie W. Kötter, CEO of ECE Work & Live added: 'After a very quiet period on the investment market, we have seen increased interest from serious investors with a focus on sustainable, future-proof real estate in recent months.
'It was therefore the right time for us to sell this fully let, ideally located logistics property that meets the highest sustainability criteria.'
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.
Tim Ulrich, head of transaction management Germany, Savills IM added: 'The logistics real estate market in Hamburg has many older existing properties. Due to a land shortage in what is a very logistics-intensive area, newer logistics properties are mainly located in the suburbs of the city.
'This acquisition, located in the largest industrial area outside the port of Hamburg, has a truly unique selling point. We are still on the lookout for modern properties in established logistics locations for the investment mandate and our logistics funds.'
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 m2 of rental space, which is fully let to Pandora and Kühne + Nagel on a long-term lease.
The carbon zero asset, powered by photovoltaics, 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. The building is seeking DGNB Platinum certification.
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 (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).
