PROPERTY MARKET REPORT HANNOVER 2016 - BUSINESS PROMOTION - Hannover.de
←
→
Page content transcription
If your browser does not render page correctly, please read the page content below
PROPERTY MARKET REPORT
HANNOVER 2016
BUSINESS PROMOTION
3
THE MOST IMPORTANT FIGURES AT A GLANCE
1.13 million 14.80 €/m2 € 372 million
Inhabitants in the Prime rent for Transaction
Hannover Region office space in the volume in office
city centre 2016 market 2015
125,000 m2 200 €/m2 € 213 million
Office space Prime retail Transaction
turnover 2015 rent 2016 volume retail
trade 2015
Twice in
€ 96 million TOP 10 4.50 €/m2
Transaction Most attractive Prime rent
volume in German shopping logistics 2016
logistics streets 2016
market 2015
€ 91 million 175,000 m2 14.50 €/m2
Transaction Logistic space Prime rent
volume in the turnover 2015 residential new
hotel market builds 2016
2015
HANNOVER: PROPERTY SUBMARKETS AT A GLANCE 1
Offices Office space turnover 2010 to 2015*
150
The location includes approx. 5.06 million m2 office
In thousand m2 MF-G
space (of which 4.59 million m2 in Hannover city).
100
Hannover therefore has the largest office property
inventory after Germany’s seven A-locations.
Since 2010, an average of 790,000 m2 office turnover 50
has been achieved in Hannover, Langenhagen, Laatzen
and Garbsen.
0
An average turnover of around 130,000 m2 has been
achieved every year – a figure more than double that of
10
11
12
13
14
15
20
20
20
20
20
20
the average of B-cities.
Because of the relatively low vacancy rates (2015: 5.2 % ■ Rental SCH ■ Rental surrounding towns
vacancy rate in Hannover, 6.1 % for A-cities) and the ■ Owner-occupied SCH ■ Owner-occupied surrounding towns
higher market transparency, the investment risk is lower. * F igures for 2016 based on details provided by market players on developments in first 6 months 2016.
Source: bulwiengesa AG; Hannover Region surveys; details provided by market players
The investment transaction volume in the office proper-
ty market amounted to approx. € 372 million in 2015.
Office vacant space 2010 to 2015*
Lettable space office portfolio 2015 300
In m² MF-G 5.06 mil.
250
In thousand m2 MF-G
of which Hannover city 4.59 mil.
200
of which surrounding towns of Garbsen, 0.46 mil.
Laatzen and Langenhagen 150
Office space turnover 2014 in m² MF-G 125,000 100
City of Hannover 120,000
50
Surrounding towns of Garbsen, 5,000
0
Laatzen and Langenhagen
Vacant space 2014 in m2 MF-G 261,000
10
11
12
13
14
15
20
20
20
20
20
20
City of Hannover 237,000
Surrounding towns of Garbsen, 24,000 ■ City of Hannover ■ Surrounding towns**
Laatzen and Langenhagen * The vacant space figure is based on the office space full surveys in 2008, 2012 and 2015 in the city of Hannover. For
the surrounding towns a vacancy survey took place in 2015. The survey confirmed that the vacancy rate for Hannover
Vacancy rate 2015* 5.2 % may also be assumed for the inventories in the surrounding towns and reported as such in the market report.
** Value for surrounding communities (Garbsen, Laatzen, Langenhagen)
Prime office rent city centre 2016 in €/m² MF-G 14.80 Source: bulwiengesa AG; Hannover Region surveys; details provided by market players
Prime office rent, city centre periphery 2016 in €/m² MF-G 10.40
Net initial yield in prime locations city centre 2016 4.7 %
1
MF-G = Standard method for calculating commercial rental space The source for all further details (unless explicitly stated) bulwiengesa AG: calculations for Hannover Region by
* Figure for Hannover and surrounding towns (Garbsen, Laatzen, Langenhagen) Hannover Region; verified details of market participants from the property market report group Region Hannover.
2
Source: bulwiengesa AG; Hannover Region surveys; details provided by market players According to GfK, centrality metric is 126.8 (city) and 110 (region) in 2016 (D = 100).
3
Estimate based on hall area full survey at end 2015/early 2016 by bulwiengesa. Only those properties greater than
1,000 m2 utility space were considered. An estimate to represent smaller areas was not added. The office space share
Office rents in Hannover 2010 to 2016* of the overall logistics space also represents an additional 5 % or 130,000 m 2.
4
A comparison with 2014 (number of completions 674 housing units) and 2015 (number of completions 1,116 housing units).
16
Source: bulwiengesa AG calculation based on Lower Saxony state statistical office figures (statistics for apartments
14
In €/qm MF-G
in residential and non-residential buildings in total), not including building activities on existing buildings and without
12
residential homes.
10 5
With respect to the total property movements in the residential and partial ownership submarkets, detached single
8 and double occupancy houses, terraced houses and semi-detached houses and apartment blocks (old and new
6 buildings). Expert panel for property values Hameln-Hannover, 2016.
4
2
0
10
11
12
13
14
15
16
20
20
20
20
20
20
20
Prime rent city Prime rent office centres
Prime rent city centre periphery
HANNOVER: PROPERTY SUBMARKETS AT A GLANCE
Retail centrality index 2016 (Germany = 100, GfK)
Retail Hannover city 126.8
Region (including Hannover city) 110
Hannover’s Georgstraße and the Bahnhofstraße have for many Purchasing power 2016 (in € per resident, GfK)
years now been amongst Germany’s Top 10 most attractive
Hannover city 22,406
shopping streets and rank in the nation’s prime locations in
Region (including Hannover city) 22,732
terms of pedestrian flow and prime rent.
Retail turnover 2016 (in € per resident, GfK)
The centrality of the city and the region is high 2, with the
catchment area extending westwards over the Lower Saxony Hannover city 6,680
border into North Rhine-Westphalia. Region (including Hannover ciy) 5,851
Within the region there are strong shopping centres of Prime rent city prime location 2016 in €/m * 2
200
supra-regional importance as well as retail market centres Average rent city prime loction 2016 in €/m * 2
145
(Laatzen, Langenhagen, Isernhagen-Altwarmbüchen) as Net initial yield in prime locations 2015* 4.5 %
well as a number of attractive smaller town centres in the
Net initial yield specialist retail centres 2015 6.3 %
region and district centres which customers also find attractive.
In 2015, turnover in retail properties in the region amounted to
€ 213 million.
* Bahnhofstraße, Große Packhofstraße, Georgstraße
Logistics space turnover 2016 in m² 175,000
Logistics Prime rent (new builds with excellent building 4.50
services and optimal transport connections)
The Hannover Region is a key logistics hub within Europe and is 2016 in €/m²
also a seaport hinterland hub. Average rent 2016 in €/m² 3.65
Hannover is second only to Hamburg as the most important
Net initial yield logistics centres in prime sites 2016 5.9 %
logistics location in North Germany.
Early in 2016, the Hannover Region boasted some 2.5 million m2
of hall space in 265 properties suitable for logistics, of which
alone 1.7 million m2 – 130 buildings – were erected after 2000. 3
Turnover in logistics properties in the region achieved a total
value of around € 96 million in 2015.
All figures refer to Hannover Region
Residential rent, new builds 2016, 14.50
Residential prime rent in €/m²
Residential rent, re-let property 2016, 11.30
The increasing population of both the state capital Hannover prime rent in €/m²
and several neighbouring communities is lifting demand for Purchase price for owner-occupied apartments, 5,100
residential properties. new builds, prime group 2016 in €/m²
Since 2010, the population in the state capital Hannover alone Purchase price for owner-occupied apartments, 3,600
has climbed by 27,800 people, a plus of 5.5 %. new builds, average 2016 in €/m²
In the same period, however, only some 4,690 new apartments Multiplier for apartment blocks/investment 17.0
were completed in Hannover such that there is and will properties, average 2016
continue to be considerable demand for new homes.
Multiplier for apartment blocks/investment 20.7
Nonetheless, the number of completions rose in 2015
properties inventory, prime group 2016
year-on-year by almost 65 %. 4
Multiplier for apartment blocks/investment 24.0
In 2015 turnover in apartments and houses in the Hannover
properties in new builds, prime group 2016
Region had a total value of around € 1.95 billion. 5
All figures refer to state capital Hannover
PROPERTY MARKET REPORT 2016
Picture acknowledgements Architekten Spengler & Wiescholek, Hamburg: Page 71
bauwo Grundstücksgesellschaft mbH: Page 54
Blocher Blocher Partners, Stuttgart: Page 16
Carpus + Partner: Page 14 top
Christoph Mäckler Architekten: Page 13
DELTA BAU AG/Birgit Streicher: Page 67
DELTA BAU AG: Page 75
Deutsche Reihenhaus AG: Page 81 centre
FIEGE Logistik Stiftung & Co. KG: Page 57
GlaserProjektInvest GmbH: Page 75
Gundlach GmbH & Co. KG: Page 64, 74
HELMA Wohnungsbau GmbH: Page 69, 72, 73 top and centre
Kitzig Interior Design: Page 12
ksw architekten + stadtplaner, Hannover: Page 22/23
HMTG: Page 82
KÖLBL KRUSE GmbH: Page 20
Landeshauptstadt Hannover: Page 5 bottom , Page 10 right
léonwohlhage Architekten: Page 26
Mensing Timofticiuc Architekten: Page 8
meravis Bautraeger GmbH/MACINA digital film GmbH & CO KG: Page 69
Projektentwicklung HRG & Delta Bau GmbH & Co. KG/studio architec: Page 29
Region Hannover: Page 29 bottom
Region Hannover/Olaf Mahlstedt: Page 4, 9, 10 left, 11, 13 left,
14 bottom, 16 top, 24, 28, 30, 36/37, 38, 40, 41 right, 42, 43, 44,
46, 48/49, 50, 53, 65, 70, 73 bottom, 81 top
Region Hannover/Peter Hiltmann: Page 5 top
Region Hannover/Frank Aussieker: Page 6/7, 15
Schramm & Schoen Immobilien AG: Page 18
STRABAG Real Estate GmbH/bloomimages: Page 41 left, 62/63
Weber Massivhaus GmbH: Page 81 bottom
CONTENTS
FOREWORD LOCATION OFFICE
HANNOVER REGION PROPERTY MARKET
Page 5 Page 6 – 21 Page 22 – 35
RETAIL LOGISTICS RESIDENTIAL
PROPERTY MARKET PROPERTY MARKET PROPERTY MARKET
Page 36 – 47 Page 48 – 61 Page 62 – 81
HANNOVER IN IMPRINT MAPS
COMPARISON
Page 82 – 83 Page 84 Pages 21, 34/35, 47, 60–61, 80
3
Room for everyone: The inclusive Café “anna leine” in the refurbished building of the Ada- und Theodor-Lessing-Volkshochschule looks across the banks of the River Leine.
4 PROPERTY MARKET REPORT 2016
THE PROPERTY MARKET IN THE HANNOVER REGION
Dear Readers,
The Hannover Region is one of Germany’s locations with the best prospects for the future,
with the Prognos-Future-Atlas confirming the location’s very high dynamism and strength.
Ideal preconditions to successfully implement projects in Hannover.
Hannover’s commercial property market stands for robust yields on investments with
development potential – which also applies to all submarkets. Hannover city is one of
Germany’s top shopping addresses, there is a very high demand for logistics areas in the
region, the office market in the state capital has established itself as the largest B-location
in Germany. Other factors such as attractive rents with low levels of volatility and good yields
make both Hannover city and the Hannover Region interesting options for institutional
players seeking to invest in core properties outside of A-locations. Furthermore, the state
capital Hannover is currently experiencing a building boom for residential housing.
The open and honest exchange of information amongst locally active market players has
also helped raise trust in the Hannover location to its high present-day level. The regional
business development organisation has been collaborating with partners from the property
sector since 2003 to collect key metrics on all relevant submarkets across the region and
has prepared them for perusal in an attractive, informative fashion.
This present issue is the result of joint efforts with 17 partners. The regional business develop-
ment promotion experts sit down with regional property market players at a round table to
ensure compliance with the high standards of the Gesellschaft für immobilienwirtschaftliche
Forschung e.V. (gif) (Property Industry Research Corporation). The results of these collaborative
efforts are reviewed and supplemented by bulwiengesa AG, the well-known consultant firm.
This report is not least documentary proof of the lively and committed
cooperation present in Hannover’s property business community.
Ulf-Birger Franz Sabine Tegtmeyer-Dette
Head of Business, Transport and Head of the Business and Environment Department,
Education Department First Town Councillor
Hannover Region State Capital Hannover
FOREWORD 5
HANNOVER REGION
LOCATION
T he Hannover Region is a dynamic centre of growth in North
Germany. The positive economic development experienced
by the regional economy over recent years has generated a
sustainable demand for properties in all submarkets. The
commercial property market in Hannover has consolidated its
position as a key location after Germany’s seven major A-cities.
Eye-catchers in the newly renovated Kuppelsaal at the Hannover Congress Centre: ceiling mounted acoustic reflectors to optimise the sound in the circular hall.
6 PROPERTY MARKET REPORT 2016
7
One of the largest co-working and Maker Spaces in Germany opens at the end of September. The “Hafven”
now houses the Lindener Coworking Space “Edelstall” and the north Hanoverian Maker Space “Die Werke”.
8 PROPERTY MARKET REPORT 2016Lower Saxony’s vital economic area Employment growth is dynamic and sustainable
Brands famous throughout the world, a business community Levels of employment have been growing since 2010;
characterised by strong SMEs and outstanding research in 2015 a new record level was reached. Almost 490,000
organisations are all features of Lower Saxony’s state capital people work and pay social security contributions in the
Hannover and the Hannover Region. Around 50,000 business Hannover Region – representing a 60,000 plus compared
enterprises make Hannover Lower Saxony’s most vital with 2010. A central role in the region is played by the
economic area. state capital Hannover, hosting approx. 310,000 jobs, with
a further 170,000 plus working in the surrounding areas.
Regional unemployment in June 2016 was relatively
low at 7.5 % (down 0.1 % compared with June 2015).
AROUND 50,000 BUSINESS
ENTERPRISES WITH APPROX.
490,000 EMPLOYEES MAKE
HANNOVER LOWER SAXONY’S
MOST VITAL ECONOMIC AREA.
The Deutsche Rentenversicherung has invested around € 67 million in its new headquarters in Laatzen. At approx. 18,500 m 2 MF-G,
the building is the largest office building outside of the state capital Hannover in the Hannover Region.
HANNOVER REGION LOCATION 9The new justice centre behind Hannover main station opened in mid 2015 providing around The arvato AG logistics centre on the Kronsberg handles the internet
12,000 m 2 of space for five courts under one roof. trading operations for well-known fashion labels including Esprit, C&A,
Hugo Boss and Tommy Hilfiger. The facility is one of the most up-to-
date of its kind in Germany.
All regional property submarkets benefit sustainably from Logistics: Hannover Region is a European logistics hub
the positive economic developments. and vital hinterland hub for seaports in North Germany,
Benelux and the inland ports of the Ruhr area with
Offices: The number of people employed in offices in a great potential for growth. Every sixth job in Lower
Hannover city rose during 2016 to a figure of around Saxony’s logistics industry is located in the Hannover
175,000. The number of office employees has risen Region. Overall some 43,800 employees work directly in
by around 17,600 since 2010, equivalent to 11.2 %. The the logistics industry, with a further 28,000 jobs being
growing demand for office space is reflected in the secured indirectly by the logistics sector 6. It is above all
office property market figures. New contracts for rental trade and manufacturing enterprises which are raising
office space totalled approx. 125,000 m 2 in 2015. the region’s demand for logistics services, or operat ing
their own logistics centres in the region. In recent years
many contract service providers have settled in the area,
rendering services for other businesses and generating
their own high value chains. As a result of ongoing bottle-
necks in the provision of space for new builds in the
logistics sector, turnover in logistics hall space settled
at a figure of around 175,000 m 2 in 2015.
6
Comparison of Hannover Region (2016): Labour market monitor
POSITIVE ECONOMIC DEVELOPMENT logistics sector (location information 1/2016)
IS INFLUENCING ALL SUBMARKETS
OF THE PROPERTY LOCATION OVER
THE LONG TERM.
10 PROPERTY MARKET REPORT 2016The Spanish Inditex Group (including ZARA, ZARA Home, Massimo Dutti) has The former grounds of the Hanomag factory in Linden, including listed industrial
opened or refurbished several outlets belonging to its various labels in Hannover buildings, is now host to offices, retailers as well as homes.
in recent months.
Retail: Despite the competition of the internet, retail sales Residential: The residential property market is char
in Germany have experienced stable to light growth thus acterised by regional providers and the demand from
far in 2016. The Hannover Region is one of Germany’s five private households. In 2015, apartments and houses
highest turnover retail locations. In 2016, over the counter with a total value of around € 1.95 billion were traded
sales are expected to reach around € 6.6 billion. This is in 2015 in the region.
also thanks to the region’s retailers making best use of the
advantages of excellent market presence, strong demand Population growth in the state capital Hannover and a
and high sales volumes, with the region’s large hinterland number of adjacent communities has created a growing
as a contributory factor. In Hannover city demand for demand which is affecting the residential property market.
suitable retail properties continues at a high level but there Since 2010 the population of state capital Hannover
is a lack of space in prime locations. The development of alone has risen by 27,800, a plus of 5.5 %. Over the same
rents and yields has been excellent overall. Additional period, only around 4,690 new homes were completed
demand for sales floor is also being driven by expanding in Hannover city, such that considerable demand for new
international chains and investors. These developments housing exists both currently and in the future. Acting
are also impacting specialist retail parks and shopping together with the housing industry, Hannover intends
centres in the area surrounding Hannover city. to create permits for a minimum 1,000 housing units
annually. 2015 saw the number of completions rise year-
on-year by almost 65 % (to 1,116 housing units).
THE COMMERCIAL PROPERTY The municipalities and with them the housing market are
MARKET IN THE HANNOVER REGION also facing up to the major challenge represented by the
long-term housing requirements for refugees. At the start of
STANDS FOR SECURE YIELDS ON 2016, around 4,900 refugees were living in accommodation
INVESTMENTS WITH LONG-TERM provided by the state capital Hannover. It is not yet clear
DEVELOPMENT POTENTIAL. how many of these refugees will be housed over the long
term in Hannover and its surrounding areas.
HANNOVER REGION LOCATION 11HANNOVER HAS PLENTY OF POTENTIAL
FOR NEW HOTEL PROJECTS – AROUND
1,050 NEW HOTEL ROOMS CONTAINING
OVER 2,000 BEDS WILL BE ADDED BY 2018. Rates of bed occupancy climb in Hannover city
Thanks to city and cultural tourism which is independent
of season, and a constant number of business travellers,
bed occupancy has been good, evenly spread throughout
the year, especially in Hannover city. With an average
bed occupancy of 45.2 % of beds available in 2015, the
Tourism: more overnight stays rate is actually 2.3 % higher than the result for 2014.
Tourism in the Hannover Region hit a new record in 2015. Overall the number of beds available, of around 13,600,
With the number of overnight stays reaching around is significantly higher than the level during the World
2.23 million, the previous record from the years 2000 Exposition in the year 2000 (a plus of 2,000 beds).
and 2011 were overtaken. The Lower Saxony state
office for statistics recorded well over 150,000 more Rising demand for hotel projects –
overnight stays in the state capital Hannover during 1,000 additional beds by 2017
2015 than in the previous year – representing a plus The fact that there is adequate potential for new hotel
of 7.2 % compared with 2014. For the 21 towns and project developments in Hannover is demonstrated
municipalities of the Hannover Region, the figure rose by by a number of current developments and projects in
more than 170,000 overnights, up 4.6 % year-on-year. the pipeline on Hannover’s hotel property market.
A former office building with a
listed late 19th century facade at
Aegidientorplatz in Hannover is
currently being converted into a
design hotel of the new Lindener
brand me and all hotels.
Hotel projects
Completion/
Hotel Location Rooms Category
opening
prizeotel Hamburger Allee 212 Q4/2015
Holiday Inn Express Raschplatz/Hamburger Allee 172 2017
Star inn Hotel, by Comfort Hamburger Allee 65 179 Q1/2017
Cookotel Gradestraße 22 395 2017
me and all hotels Aegidientorplatz 2 a 143 2018
Hotel am Friedrichswall
Friedrichswall 11 280 2019
(former Maritim)
12 PROPERTY MARKET REPORT 2016Playful interior designs in pop-art colours reminiscent of 1960s and 1970s pop culture: The exposed concrete facade dating from the 1960s is to get a make-over: the former
this is the design concept of the Hannover prizeotel. The budget-design hotel chain Maritim Grand Hotel on the Friedrichswall is scheduled for refurbishment from
opened its new 212-room hotel on the Hamburger Allee, just around the corner from 2019: around € 10 million are earmarked for the facade redesign.
Hannover main station in September 2015.
Hotel project developments Large-scale hotel refurbishment
A number of budget and designer hotel concepts are work planned on Friedrichswall
in progress at various sites. In September 2015, prizeotel A large-scale refurbishment project is planned over
opened its doors at Hamburger Allee 50. The operation the medium term opposite Hannover’s Neue Rathaus:
offers 212 rooms in the two-star-plus sector with designed The Maritim Grand Hotel, built in 1965 as the “Hotel
interiors. This development is complemented by the newly Intercontinental”, discontinued its hotel operations at
built Star Inn Hotel by Comfort in the immediate vicinity the end of 2015. The new owner plans a full refurbishment,
at Hamburger Allee 65 – 75. This 3-star hotel is scheduled to creating the opportunity to enhance and reposition this
open in mid 2017 with 179 new rooms. The Lindner Hotels AG central location on Hannover’s Friedrichswall. The first
also plans to open its new hotel operation in 2017 in a listed designs for the new facade were presented in October 2015.
building located at the central Aegidientorplatz site; the Plans include an additional storey to create a Sky Bar with
143-room me and all hotel. In 2017 the Foremost Hospitality an undulating roof. At present the hotel building itself will
Group plans to open a Holiday Inn Express with 127 rooms be used for a two-year period by Hannover city to provide
on the Hamburger Allee (in the lower floors of the Bredero refugee accommodation for around 550 people, before
high-rise). Furthermore the Dobler Group intends to use refurbishment starts from 2019.
a former office high-rise in the Gradestraße to develop a
combined design-budget hotel with boarding house. The
Cookotel is planned with approx. 395 rooms. These projects
alone mean that by 2017, within a short two-year period, a
further 1,050 hotel rooms will be available in Hannover.
HANNOVER REGION LOCATION 13Science & Research:
work going ahead on Garbsen campus
The ground-breaking ceremony for the new Campus
Maschinenbau (mechanical engineering) took place in
Garbsen in December 2015. Located on Hannover city’s
north-western border, in Hannover Region’s second largest
municipality, eight buildings are planned for teaching and
research with premises for 11 institutes of the mechanical
engineering faculty and the DEW Dynamics in Energy
Conversion research centre. The state of Lower Saxony has
earmarked € 143 million for investment over the next four
years. Around 5,000 employees and students of Leibniz
University will teach, research and learn on the Campus.
Seven institutes have been relocated to the site in the
production technical centre (PZH). Areas are available in
the direct neighbourhood, both in Garbsen as well as at the
science & technology park in Hannover-Marienwerder, for
business enterprises seeking to be close to the Campus.
Another future-forward-looking research centre is under
A unique research centre is currently under construction in Hannover: the Hannover construction on the Callinstraße for the Hannover
Institut für Technologie (HITec, artist’s impression) is planned by the Leibniz Institute for Technology (HITec). Leibniz University
University Hannover as an interdisciplinary research infrastructure for quantum
technologies. Involving the physics, geodesic and engineering faculties, it is to Hannover intends to create a research infrastructure
organise basic and applied research as well as technological developments in the such that for the first time in Europe basic research,
fields of quantum physics and geodesics. HiTec will provide space for between 100
applied research and technological developments in
and 120 staff.
the fields of quantum phys ics and geodesics can take
place under one single roof. The € 30 million building
celebrated its topping out ceremony in mid June 2016,
with completion of HITec scheduled for the end of 2017.
The Lower Saxony Centre for Biomedical Engineering,
Implant Research and Development (NIFE), close to the
Hannover Medical School (MHH) was completed at the end
of 2015 and inaugurated in June 2016. The 7,000 m2 space
will be home to some 280 scientists deployed from the MHH,
Leibniz University and the University of Veterinary Medicine
Hannover. In the new build costing € 60 million scientists
will focus on innovative implants in the fields of the heart,
hearing, dentistry and in orthopaedics as well as developing
strategies against infection.
NIFE, the Lower Saxony Centre for Biomedical Engineering, Implant Research and
Development. NIFE bundles transdisciplinary research and developments in the field
of implant research in Lower Saxony.
14 PROPERTY MARKET REPORT 2016The Kuppelsaal concert hall was constructed in 1913 with approximately 3,600 seats: it is one of Germany’s largest classic concert halls. In 2015 the historic
building was refurbished at a cost of around € 7 million and forms the centrepiece of the Hannover Congress Centre.
Other striking property projects
In February 2016, a concert given by the London Symphony
Orchestra marked the occasion of the reopening of the
refurbished historic Kuppelsaal at the Hannover Congress
Centre (HCC). With a capacity of 3,600 seats this is one of
Germany’s largest classic concert halls. At a cost of around
€ 7 million the interior and the acoustics of the Kuppelsaal
were revamped and part of the building’s historic facade
totally refurbished.
For many decades, on the Kuppelsaal was dominated by an acoustic
improvement object hanging from the ceiling, lovingly referred to by
many visitors as “The potato”.
The Goddess of Light is
back: removing wooden
panelling put up in a
1962 modernisation has
revealed the “Goddess
of Light” standing in the
Kuppelsaal. The stucco
relief played a key visual
role when the hall was
originally built in 1914.
HANNOVER REGION LOCATION 15The site of the Eilenriede stadium was host to the topping
out ceremony in September 2015 of Hannover 96 football
team’s new sports centre for up and coming talents. The
team’s professional division is investing a total of € 17 million
in the new sports centre for its young football talents. Part
of the project involves the restructuring of existing sports
facilities and refurbishing the southern part of the main
Go to Hannover Adventure Zoo and you can touch Africa: in summer, the zoo’s stadium, a listed structure built in 1928.
new 2,000 m2 “Zambezi Kraal” animal petting area opened, an African village
with straw-roofed mud huts and round animal pens, the Kraals.
Based on designs prepared by Hannover architects agsta, Hannover Zoo’s new
community building is directly on the Adenauerallee. The building provides space
not only for administration but also e.g. the zoo’s animal hospital.
Hannover Adventure Zoo intends to invest around
€ 71 million over the coming 10 years as part of its master
plan 2025+, with the money being spent on the zoo’s
worlds of adventure as well as infrastructure. The new
community building and the Zambezi Kraal, an African
animal petting area, were completed in summer 2016. The
design of the new zoo entrance building evokes a giant,
stylised giraffe. Work is scheduled to start in February 2017
KUPPELSAAL, ZOO, REGIONAL after the zoo’s admin offices have completed their move
PARLIAMENT BUILDING – into the space created in the new community building.
HANNOVER IS INVESTING IN KEY
IMAGE-DEFINING BUILDINGS.
16 PROPERTY MARKET REPORT 2016Symbol of open, transparent democracy Summary of investment market
Work started in summer 2014 on the redesign and total The impact of today’s low interest situation on the
refurbishment of Lower Saxony’s state parliament investment decisions of both domestic and international
plenary hall under the auspices of Blocher Blocher investors is becoming more obvious. The higher demand
Partners. The total building area is around 11,200 m ,2
for safe investments has raised the price of core prop-
with the state investing around € 53 million in the erties in established A-cities such that there is now a
refurbishment, scheduled for completion in summer scarcity, which is forcing investors to increasingly seek
2017. While the original intention had been to erect a alternative investment strategies away from classic
new building to replace the plenary hall built in 1962, A-locations. As a result, core properties at B-locations,
the hall and other areas of the Leineschloss (a palace such as Hannover, are increasingly shifting into focus.
building originating in the 17th century) are now being
refurbished compliant with their listed building status.
The remit for the redesign of Lower
Saxony’s state parliament plenary hall
building involved making the interior
space of the plenary hall fit for the
future while keeping the original ideas
of the building, designed in the 1950s by
Oesterlen, intact. The original plenary
hall, which was completely gutted, will
in the future enjoy natural daylight.
The building project on an overall area
of 11,217 m 2 is scheduled for punctual
completion in summer 2017.
HANNOVER REGION LOCATION 17Hannover Region investment market 2015 Market volume up in 2015
From 2013 to 2014 investment volumes fell by around
Volume in € 38 %, while in 2015 the initial level of 2013 was significantly
Type of building Share exceeded by almost 11 %. In the opinion of market players,
million
the reasons for the temporary weakness are more the lack
Retail properties 213 27 % of offers and less a decline of investors’ interest. Within
Office and commercial the borders of the state capital Hannover, the market has
372 46 % actually seen slightly reduced volatility (dip in transaction
buildings
volume from 2013 to 2014 of only some 3 %) while the
Industry and logistics 96 12 %
investment volumes climbed here in 2015 by almost 30 %
Hotels 91 11 % to over € 550 million.
Others 31 4%
Office properties strongest asset class again
Total 803 100 %
During 2015 office properties proved to be the strongest
asset class with a volume of € 372 million. They were
responsible for just over 50 % of total transaction volume,
MOVING AWAY FROM CLASSIC while the share of retail properties was over 46 % (€ 213
A-LOCATIONS – DOMESTIC AND million). Industry and logistics properties (€ 96 million)
and hotel properties (€ 91 million) were both relatively
INTERNATIONAL INVESTORS ARE constant with shares of 12 % and 11 % respectively. Hotels
INCREASINGLY FOCUSSING ON CORE enjoyed particularly high levels of demand from investors
PROPERTIES IN HANNOVER. seeking alternative investments and options for portfolio
diversification. In Hannover, a new record was reached in
2015. Logistics properties also enjoyed high demand as
alternative investment properties. Comparing 2015 with
2014, transaction volumes in this asset class were again
considerably higher (plus € 42 million, a rise of 77 %).
4%
11 %
4% 27 %
11 % 27 %
12 %
Investments in the
Hannover Region
Investments in der
12 % Region Hannover
46 %
46 %
This office building in the Gutenbergstraße 15 in Laatzen was sold in
early 2016 by Schramm & Schoen Immobilien AG to the city of Laatzen.
The building will be used temporarily to house refugees and then to
provide quarters to the city administration during the planned city hall
■ Retail properties ■ Industry and logistics refurbishment.
■ Office and ■ Hotels
commercial buildings ■ O ther
18 PROPERTY MARKET REPORT 2016Selected transactions 2015/2016
Property name and/or Building area/
Quarter Year Vendor Purchaser Investor type
address land area in m2
Office
GPI GlaserProjekt
B. Five (Brüderstraße 5) Q4 2015 Deutsche Telekom AG Family office 19,500 m 2
Invest GmbH
Lister Dreieck – Deutsche Special real
Q4 2015 KÖBL KRUSE GMBH Savills IM Real Invest 1 25,500 m 2
Bahn AG (Runddestraße) estate fund
Office building Public adminis-
Schramm & Schoen
Gutenbergstraße 15, Q1 2016 City of Laatzen tration/owner- 6,800 m2
Immobilien AG
Laatzen occupation
TriTower (Schiffgraben 30) Q1 2016 Allianz AG Local investor Private 10,500 m 2
Gesellschaft für Bauen Project devel-
Office and commercial
Q2 2016 Meag und Wohnen Hannover oper / Property 8,800 m2
building (Klagesmarkt 17)
mbH (GBH) developer
Retail
Galeria Kaufhof Simon Property Group/
Owner- 30,000 m2 /
Ernst-August-Platz and Q2 2015 Metro AG Hudson’s Bay Company
occupation 28,000 m2
An der Marktkirche (HBC)
Aachener Special real
Neues Erdmann Haus Q2 2015 Development Partner AG 4,000 m2
Grundvermögen estate fund
Lüder Bauträger GmbH /
Savills Investment
Planetencenter Garbsen Q3 2015 Unternehmensgruppe Asset manager 16,400 m2
Management
Lüder
Logistics
Project development
Project
logistics centre Krons-
developer /
berg (Expansion area on Q2 2015 City of Hannover Verdion (70,000 m2)
Property
Weltausstellungsallee,
developer
Hannover)
Logistics property Aurelis Real Estate
Q2 2015 Deutsche Messe AG Asset manager 23,500 m2
(Karlsruher Straße, Laatzen) GmbH & Co. KG
Hermes distribution centre
RREEF INVESTMENT
Nord-HUB (Airport Business Q4 2015 CGi hausinvest europa Asset manager 14,300 m 2
Gmbh
Park, Langenhagen)
Indupark logistics centre TH Real Estate, Palmira
Q4 2015 Nibler Gruppe Asset manager 37,500 m2
(GVZ Lehrte) Capital Partners
Krage logistics centre Schroder Real Estate
Special real
(Airport Business Park Q2 2016 LHI Leasing GmbH Kapitalverwaltungs- 60,000 m2
estate fund
Langenhagen) gesellschaft mbH
Hotel/Leisure
Mercure Hotel Hannover Ebertz-Sachwertfonds 107 Internos Global Special real
Q4 2015 170 rooms
Mitte Dorint-Hotel Hannover KG Investors estate fund
Leonardo Hotel Hannover Leopard Group and Fattal
Q4 2015 Pandox AB Asset manager 178 rooms
Tiergarten Hotels
Radisson Blu Hotel Expo HGA-Immobilienfonds BNP Paribas REIM Special real
Q1 2016 250 rooms
Plaza Hamburg-Hannover GmbH Germany estate fund
HANNOVER REGION LOCATION 19International investors much more active in 2015
During 2015 international investors were again much more
active in Hannover across all size and asset classes. On
the buyer side their share (in terms of capital invested)
touched almost touched 50 % in 2015, while only reaching
6 % on the vendor side. International investors prefer
larger scales and in addition to office properties, demon
strated a preference for retail and hotel properties.
The Essen-based project developer KÖBL KRUSE is constructing
an office building for the Deutsche Bahn on the site of the former
Typical for B-locations: medium-sized investments, of
central bus station. Directly behind the main railway station it will
between € 20 and 100 million were again the strongest provide 800 offices for 1,100 staff. During the project development
size category in 2015. It is indeed offers of this size phase, Savills Investment Management acquired the building for a
special real estate fund.
category which are available in a B-location like Hannover.
No transactions in excess of € 100 million took place,
simply because there were no offers. Almost a third of Hannover city as an investment target
all transactions were for values between € 50 and 100 When investments take place in Hannover, they are mainly
million, whereby only international buyers were active. For in core properties in the city’s very centre. More than 75 %
example, a fund advised by J.P. Morgan Asset Management of office investments during 2015 were in Hannover’s city
purchased an around 21,500 m 2 large office property in centre, with more than 80 % of the investment volume in
Hannover’s Joachimstraße, still currently tenanted by retail properties. Logistics properties, on the other hand, were
Deutsche Bahn, at the end of 2015. For its special real transacted mainly in the state capital’s surrounding areas.
estate fund, Real Invest 1, Savills IM acquired the Lister
Dreieck office project for around € 90 million, a building Slow start to 2016 – no major deals to date
for which Deutsche Bahn had already signed the rental As an investment year, 2016 has had a somewhat slow
contract even before building work started. This is an start: during the first six months of 2016 only around € 80
excellent example showing that there is the willingness to million have been invested in the region and Hannover
buy where good offers are available; here again the buyer city. The largest deals to date are the sale of the Radisson
is thought to be an international institution. In another Blu Hotel by HGA Capital to a special BNP fund for more
portfolio transaction, the two Galeria-Kaufhof properties than € 30 million and the TriTower by Allianz to a local
in Hannover’s city centre changed ownership – during the investor for almost € 17 million. Latest news is that Meag
first half of 2015 Metro AG sold its share in the department has sold two office and commercial buildings located on
store chain including properties to the Canadian Hudson’s the Klagesmarkt to GBH (Klagesmarkt 17) and the BAUM
Bay retail group. Unternehmensgruppe (Klagesmarkt 12) respectively.
The GlaserProjektInvest
GmbH acquired an office No properties exceeding € 50 million in value have been
and technology building transacted thus far, while hotel properties, with a 40 %
in the Brüderstraße in
share, are ahead of office and commercial properties. This
Hannover’s city centre
from Deutsche Telekom is a situation being driven mainly by both a lack of offers
AG at the end of 2015. for larger properties in as-new condition as well as prices
Parts of the building,
which have risen significantly – also in B-locations. With
including the facade, were
totally refurbished. a net initial yield of 4.7 % for offices and 4.5 % for retail
properties, prices in Hannover have reached historically
high levels.
20 PROPERTY MARKET REPORT 2016Selected transactions 2015/2016
17
19 8
11
21
12 20 18 3 2
13
4 6
7 16
14
9
15 5
1
10
1 km 2 km 3 km N
Hotel Retail Public buildings, sports and culture Research and science
1 7 13 19
Hotel am Friedrichswall Building Steintorplatz Hannover Adventure Zoo Campus mechanical engineering
2 8 14 Leibniz University
prizeotel Möbel Höffner/A2-Center Hannover Congress Centrum
20
3 9 15 HITec
Star Inn Hotel, by Comfort Neues Erdmann Haus/Reserved Lower Saxony parliament
21
16 NIFE
Hannover 96 new sports centre
Offices Residential Logistics
Airport
4 10 17 Hannover Exhibition grounds
GBH Klagesmarkt Kronsberg-Süd DB Schenker Logistics centre
5 11 18 Main station/intercity
Prinzenareal VIER DHL-distribution centre at
6 12 former goods station
Sparkasse Hannover Wasserstadt Limmer
HANNOVER REGION LOCATION 21OFFICE
PROPERTY MARKET
H annover is and remains one of the largest locations in
Germany’s property market after the Top 7. Overall in 2016,
Hannover counted around 175,000 office employees (plus
11.2% since 2010). The higher demand for office space is
very apparent on the office property market. Although
traditionally dominated by owner-occupiers, Hannover is
enjoying the interest of German and international investors.
The administration building for public order to be built next to the Schützenplatz will house a number of offices currently spread around the city,
including the car registration office, the lost-and-found office and the industry and veterinary authority. The building designed by ksw architects of
Hannover on the site of the present day car registration office is set for completion by 2019.
22 PROPERTY MARKET REPORT 201623
A declaration of faith in the location – Viscom, a Hannover-based SME, has invested over € 7 million in a new build,
creating space for production and customisation of its machinery.
24 PROPERTY MARKET REPORT 2016Strongest B-location in Germany A point worthy of note here is that 2015 was not dominated
Since 2010, turnover in office space in Hannover, Langen by the traditionally strong owner-occupied properties. In the
hagen, Laatzen and Garbsen has totalled 790,000 m 2 – past, Hannover’s best years have always been characterised
an average of approx. 130,000 m2 per annum, almost double by large, owner-occupied properties, with such deals being
the average area of B-cities. The location includes approx. absent in 2015. The first six months of 2016 were also lacking
5.06 million m2 office property space, of which alone around in owner-occupied turnover.
4.59 million m is in the state capital Hannover.
2
Reflecting the projects in progress or projects recently
Office property turnover on sustainable growth completed in the city, Hannover market players agree
With around 125,000 m2 new lets of office space in Hannover, that the prime rents will stay stable or climb slightly in all
Garbsen, Laatzen and Langenhagen, the overall turnover locations up to the end of the year. The fact that in the
for 2015 was up almost 7 % in a year-on-year comparison past higher prime rents were not achieved was due to the
with 2014, and a good 19 % compared with 2013. No owner- fact that over the last few years there has been a dearth
occupied areas were built or bought in 2015. Total turnover of offers of high quality space in central office locations.
in 2015 was only 4 % down on the average of the last five
years (130,000 m2). 7
The maximum rent achieved is the first maximum registered net rent excluding utility builds,
independent of local submarkets, qualities and size of the let area, as concluded during the
respective reported period. This not only takes into account letting contracts concluded, but
The major rental deals transacted over the last 12 months also includes letting contract extensions which are not part of letting turnover.
were the project development by Kölbl Kruse of Essen for
the Deutsche Bahn at Raschplatz – known as the Lister
Dreieck, and covering around 25,500 m2 rentable office
space – and the leasing of the former Sparkassen HQ on
Aegidientorplatz (around 10,000 m2) to the state capital
Hannover by the Hannover-based BAUM Gruppe.
The main focus of activities was in the inner city area, where
market experts identified movements of approx. 65,000 m2,
a plus in turnover of almost 63 % compared with 2014 –
and around 25,000 m 2 up on the previous year. Along the
city periphery and major arterial roads, approx. 40,000 m2
turnover was reported, in neighbouring towns around
6,000 m2. Prime rents climbed significantly in 2015, reaching
a verifiable 14.80 €/m2 (compared with 14.20 €/m2 in 2014).
The highest rents7 were actually above this in the inner city
zone, reaching 15 to 18 €/m2 in top notch new build proper-
ties and high quality refurbished areas.
“KING OF THE B-CITIES” –
HANNOVER IS GERMANY’S
EIGHTH LARGEST
PROPERTY LOCATION.
OFFICE PROPERTY MARKET 25Office property investments The city is benefiting from the global increase in investment
Thanks to its low market risk and the good growth prospects, pressure, which is forcing investors into German B-locations.
Hannover is definitely an interesting option for investors Whenever major scale core properties (of value between
from both Germany and abroad seeking high quality core € 50 and 100 million) come onto the market, these projects
properties. 2015 saw registered office property transactions are in part snapped up even during the project development
reach a volume € 372 million in the region. The focus of phase, above all by international investors. This is proof of
office transactions was the state capital Hannover (€ 275 the potential inherent in Hannover’s market. An example of
million) with above all investments taking place in core such an investment was the purchase of an office building
properties within the city ring (around € 235 million). offering 21,500 m2 space previously rented exclusively by
the Deutsche Bahn in Hannover’s Joachimstraße, purchased
at the end of 2015 for a fund managed by J.P. Morgan Asset
Management. The purchase of the Deutsche Bahn’s future
HQ in Hannover was also reported at the end of 2015. Savills
Investment Management KVG, acting for the Club Deal
special real estate fund Savills IM Real Invest 1, purchased the
HANNOVER IS BENEFITING FROM Kölbl Kruse project development on the Lister Dreieck site.
GLOBAL INVESTMENT PRESSURE
PUSHING MORE INVESTORS INTO
GERMANY’S B-CITIES.
At the start of Hannover’s Vahrenwalder
Straße, the LIST Retail Development
GmbH & Co. KG intends to construct
an office and commercial building of
approx. 25,000 m 2 in size. Building
completion, located directly adjacent
to the Continental AG HQ, is 2018.
26 PROPERTY MARKET REPORT 2016Hannover office market completions 2010 to 2019 in thousand m 2
100
90
80
70
60
50
40
30
20
10
0
2018*
2019*
2016*
2017*
2010
2014
2015
2012
2013
2011
■ New build completions Hannover ■ Refurbishments Hannover ■ New build completions Region
* Based on the spring forecast of bulwiengesa AG: Hannover Region survey; details provided by market players: data status Q3/2016
Office space portfolio 2009 to 2016* in thousand m² MF-G
5,000
4,000 Vacancies continue to fall
New offices being built have a high pre-letting ratio, with
3,000 speculative new build projects playing practically no role
at all. The data on completions in past years and in the
2,000 pipeline and the continuing low vacancy rates provide hard
evidence of market observers’ opinions.8
1,000
Despite the high number of completions in 2014 and 2015,
0
the vacancy rate has not increased; apparently the new
space was totally absorbed by the market. The vacancy
2016 ***
2015 *
2012 *
2010
2014
2013
2011
rate closed at 5.2 %, 50 base points lower than the previous
year. In absolute terms rentable vacancies in Hannover
■ Office market Hannover ■ of which Hannover city city fell by some 17,500 m 2 to 237,000 m 2. In a comparison
* Year of a total office space survey by bulwiengesa AG and Baasner Stadtplaner GmbH with A-locations (vacancies 2015 on average 6.1 %) and
** With Garbsen, Laatzen and Langenhagen *** Forecast Source: bulwiengesa AG
Germany’s largest regional locations (vacancies 2015 on
Total office employees 2010 to 2017 in thousands average 5.7 %), this value may be considered to be low.
8
Based on updated full survey of office space inventory and vacancies by bulwiengasa AG end
Hannover Hannover 2015/early 2016.
Year Ratio** Ratio**
City Region*** The forecast and model calculations of bulwiengesa AG are based on the total inventory surveys
of 2009, 2012 and 2015.
2010 157.5 40.8 63.1 26.8
2011 159.4 40.8 64.8 27.1
2012 163.4 42.0 65.8 26.5
2013 165.6 41.3 67.2 27.5
2014* 168.8 41.8 67.8 27.4
2015* 171.7 42.3 68.0 27.2
2016* 175.1 42.7 68.7 27.1 * Estimate or forecast based on reports provided by the Lower Saxony state office for statistics
** Ratio of office employees to total workforce in %
2017* 177.3 42.9 69.0 27.0 *** Region without state capital
Source: bulwiengesa AG
OFFICE PROPERTY MARKET 27The Mecklenburgische Versicherungsgruppe has erected a new office building directly adjacent to its HQ in the
Berckhusenstraße. Since early 2016 approximately 170 staff work here; parts of the building are sublet.
Market dominated by state sector, finance The Prinzenareal project (6,330 m2), in which VGH insurance
and insurance industry is investing around € 33 million, is scheduled for completion
The finance and insurance industries and the state sector in mid 2017. The three new buildings replace several existing
have traditionally generated the highest demand for office buildings owned by VGH. The main tenant of the approx.
space in Hannover. The fully refurbished Sparkasse HQ 3,500 m2 premises is the auditing firm KPMG.
(27,500 m2) was reoccupied at the end of 2015.
The Gesellschaft für Bauen and Wohnen Hannover mbH
Early March saw the inauguration of the new building intends to complete its office and residential building
erected by the Mecklenburgische Versicherungen a.G. on project on the Klagesmarkt by the end of 2016. This organi-
the Karl-Wiechert-Allee (5,600 m2). The insurer has actually sation is a subsidiary of the state capital Hannover and
sublet part (1,600 m 2) of the mainly owner-occupied will also be moving its HQ from the northern end of the
building to Endress+Hauser, an industry service provider. Podbielskistraße to the Klagesmarkt, very close to the
city centre.
Sparkasse Hannover recently completed the full refurbishment of its HQ built in the 1970s on
Raschplatz.
28 PROPERTY MARKET REPORT 2016Vodafone moves into City Gate Nord
The Hannover Region Grundstücksgesellschaften (HRG) and
Delta Bau AG are constructing a new building for Vodafone
on a site known as City Gate Nord. Building is scheduled
to commence in 2016, and by 2018 staff at the company’s
previous office locations on the Hans-Böckler-Allee (200
employees of Vodafone Kabel Deutschland) and Langen-
hagen (450 employees of Vodafone Deutschland) will move
into the new premises on the Vahrenwalder Straße. The
planned investment volume is in the medium double-digit
million region.
As part of its integration of Kabel Deutschland, Vodafone will be bundling offices
previously spread around the city and the Hannover Region in a building of around
8,000 m 2 to be completed by end 2018 on the Vahrenwalder Straße. It is part of the
first building phase of the City Gate Nord project. The project is a joint development of
Delta Bau AG in cooperation with HRG Hannover Region Grundstücksgesellschaft mbH.
Continental to stay in Hannover
Tyre and technology group Continental AG is expanding
and simply does not have enough space for its growing
workforce at its HQ on the Vahrenwalder Straße in Hannover.
In mid-June 2016 Continental AG and the state capital
Hannover announced the start of negotiations for the site
at the Pferdeturm crossing. The site is divided into two
sections, respectively north and south of the Hans-Böckler-
Allee adjacent to the Messeschnellweg expressway. The
ContiCampus is to be finalised by 2020. The architectural
competition is also to include solutions for the intended
bridge across the Hans-Böckler-Allee as the link joining
the two plots of land. The automotive supplier is planning
an investment in the high double-digit million region.
The city of Garbsen, with a population of 60,000 Hannover
Region’s second largest municipality, also offered Continental
an option at the Neue Mitte Garbsen – a 25 hectare plot
to the west of the Europa-Allee. It intends to use this
site, located in the immediate vicinity of the Rathaus and
the town centre, to develop a new city neighbourhood.
The Continental AG, a Hannover-based Dax-listed company, plans to build its new
HQ in Hannover. The future corporate campus is to be constructed at the Pferdeturm
crossing, with a pedestrian bridge linking the two buildings to the right and left of the
Hans-Böckler-Allee. The initial capacity of the building complex will be 1,250 staff.
Occupancy is planned for latest 2021, the year in which Hannover’s biggest company GROWING ALONG ARTERIAL
will be celebrating its 150th anniversary.
ROADS – VODAFONE AND
CONTINENTAL CHOSE INTEGRATED
SITES IN THE NORTH AND EAST
OF HANNOVER.
OFFICE PROPERTY MARKET 292016: good prospects for turnover and
prime rents
The market players of the Hannover market
anticipate that 2015 will see turnover staying
either stable or increasing slightly compared
with the previous year. The office space turn
over on the office property market already
reached around 55,000 m2 in rentals alone
in the first six months of 2016. As far as prime
rents are concerned the € 15 threshold is
considered to be on the cards by the end of
the year or in the first six months of 2017.
The centrepiece of the new Ada- und Theodor-Lessing Volkshochschule at Am Hohen Ufer is a
covered inner courtyard. The foyer opens out towards the city and also towards the banks of the
river Leine – the ground floor will include the “anna leine cafe”.
Selected office property projects
No. Property Address Investor, developer Space m2 MF-G Status
or user Completion
New build
1 Deutsche Renten- Laatzen, Lange Weihe 2 Deutsche Renten- 18,500 m2 office, Q1/2015
versicherung Braun- versicherung Braun- owner-occupation
schweig-Hannover schweig-Hannover
2 Justice centre Leonhardtstraße 15 FUBOS Beteiligungs 11,900 m2 office Q3/2015
GmbH
3 Deloitte Aegidientorplatz 2a Quantum Immobilien AG 10,500 m2 office Q2/2015
4 Volkshochschule Am Hohen Ufer 3 State capital Hannover 7,000 m2 office/ Q3/2015
seminars
5 Mecklenburgische Berkhusenstraße 150 Mecklenburgische Ver- 5,600 m2 office, Q1/2016
Versicherung sicherungs-Gesellschaft of which 4,000 m 2
a.G. owner-occupation
6 Viscom AG Carl-Buderus-Straße 6 Visom AG 4,675 m2 office, Q2&/2016
owner-occupation
30 PROPERTY MARKET REPORT 2016No. Property Address Investor, developer Space m2 MF-G Status
or user Completion
7 Neues Erdmann Haus Große Packhofstraße 34/35 Development Partner AG 2,600 m retail
2
Q1/2016
Aachener Grundvermögen 1,500 m2 office
Kapitalverwaltungs-
gesellschaft mbH
8 ZAG Zeitarbeits- Leo-Sympher-promenade 65/ ZAG Zeitarbeits- 4,140 m2 office Q1/2015
Gesellschaft Edgar-Scheibe-Straße 1 Gesellschaft mbH owner-occupation
560 m2 retail
9 Gesellschaft für Bauen Klagesmarkt/ Gesellschaft für Bauen 4,000 m2 office Q4/2016
und Wohnen Hannover Otto-Brenner-Straße und Wohnen Hannover owner-occupation
mbH (GBH) mbH (GBH)
10 Coworking und Maker Sandstraße 5 Die Werke GmbH & Co. KG 2,000 m2 office/ Q3/2016
Space Hafven Edelstall GmbH workshop owner-
occupation
11 Office projects at the Garbsen, Planetenring/ Rahlfs Immobilien GmbH 2,000 m2 office Q4/2016
Planetencenter Auf dem Horst
12 WABCO Engineering Am Lindener Hafen 22 Projekt Octava GmbH 4,000 m2 office Q1/2016
Innovation Center
(1. building phase)
13 Community building Adenauer-Allee 3 Zoo Hannover GmbH 1,000 m2 office owner- Q3/2016
Hannover Zoo occupation
14 Deutsche Bahn AG Rundestraße/ Savills 25,500 m2 office Q1/2018
Hamburger Allee (former ZOB) KÖLBL KRUSE GmbH
15 WABCO Engineering Am Lindener Hafen 21 WABCO 10,000 m2 office/ Q4/2018
Innovation Center Fahrzeugsysteme GmbH laboratory owner-
(2nd building phase) occupation
16 Pod/be Podbielskistraße 382 STRABAG 6,500 m2 office Q1/2018
Real Estate GmbH
17 Prinzenareal Prinzenstrape 19–23 VGH Projekt GmbH & Co. 6,330 m2 office Q3/2017
Prinzenareal KG
18 MARQ Marstall Quarree Am Marstall STRABAG Real Estate 2,700 m2 office Q2/2017
900 m2 gastronomy/
retail
19 Marstall West Am Marstall HOCHTIEF Hamburg 750 m2 office Q2/2017
GmbH, Gesellschaft
für Bauen und Wohnen
Hannover mbH (GBH)
20 Office and commercial Vahrenwalder Straße/ LIST Retail Development 25,000 m2 GFA Q4/2018
building corner Philipsbornstraße GmbH & Co. KG GFAoffice/retail/hotel
service provider and
gastronomy
21 Admin building Public Schützenplatz 1 Union-boden GmbH 20,000 m2 office Q4/2018
Order, city of Hannover
OFFICE PROPERTY MARKET 31You can also read
