20 December 2021
Union Investment acquires Hanse Trio complex in Rostock from LIST Develop Commercial
• New build complex comprises two hotels and an office building
• Good, highly visible location on a main traffic artery
• For the immofonds 1 portfolio
Union Investment has acquired the Hanse Trio complex in Rostock from developer LIST Develop Commercial. Located in the “Am neuen Werftdreieck” shipyard district and constructed in 2020–2021, the ensemble offers some 14,000 sq m of rental space comprising two hotels and an office building. The purchase price is in the mid tens of millions of euros. The acquisition is being made for open-ended real estate fund immofonds 1, which is marketed solely in Austria.
“Over recent months, Rostock has shown itself to be relatively resilient in the face of the coronavirus pandemic due to very high leisure and tourist demand and the staycation trend. The complex also benefits from its location on a main arterial road between the city centre and Warnemünde and its good visibility.”
Madeleine Groß, Team Manager, Investment Management Hotels DACH at Union Investment
"The building ensemble features a future-oriented mix of uses in a central location. The façade design quotes the former shipbuilding hall opposite and visually creates an effective impulse in the Rostock shipyard triangle," says Michael Garstka, Managing Director of LIST Develop Commercial. Groß and Garstka are very satisfied with the cooperation. "Both the course of the project and the constructive negotiations with Union Investment were characterized by well-structured cooperation between all parties involved," says Michael Garstka.
The ensemble is situated near the trendy Kröpeliner Torvorstadt area and is only around 100 metres from the waterfront and port. Maßmannstraße tram stop, which is served by lines 1 to 6, is within walking distance, as is Holbeinplatz suburban rail station. There is thus easy access to the city centre, main railway station and trade show site. The resort of Warnemünde on the Baltic Sea can also be reached in well under an hour by public transport or car.
The two hotels have opened in December 2020 and summer 2021, with each of them having eight floors and 30 parking spaces. Together they offer some 9,700 sq m of rental space. The office building has seven upper storeys, around 4,000 sq m of rental space and 29 parking spaces. It also includes around 300 sq m of restaurant space. The entire complex is interconnected at ground floor level. A BREEAM Very Good rating is proof of its sustainability credentials.
The hotels are operated by leading brands: by B&B Hotels GmbH under the B&B Hotel Rostock City-West label (103 rooms), and by GS Star GmbH, which is using the label Arthotel Ana Amber (155 rooms). Both leases have a fixed term of 25 years. The office building is currently around 55 per cent let. Negotiations with prospective tenants are already under way for the remaining space.
Union Investment was advised by Hogan Lovells, Heuking, HPC und Drees & Sommer. KPMG Law, Dr. von der Hardt & Partner and BNP Paribas Real Estate acted for LIST Develop Commercial.
For Union Investment Real Estate GmbH