Union Investment lets seven floors of landmark TRIIIO Hamburg office ensemble
Space taken by law firm and tax consultants YPOG and real estate services provider Cushman & Wakefield
Union Investment has let seven floors in the TOWER at TRIIIO Hamburg in one go. Law firm and tax consultants YPOG have signed a 15-year lease for around 4,150 sq m on floors 10 to 15, while real estate services provider Cushman & Wakefield will occupy the ninth floor, totalling 685 sq m. Union Investment acquired the former head office of shipping company Hamburg Süd last year from the Oetker Group for the portfolio of special real estate fund UII German Prime Select, and is in the process of repositioning the landmark office ensemble in the market.
“We are currently remodelling the TRIIIO Hamburg site following the departure of Hamburg Süd to create an urban district comprising offices, a restaurant for tenants, conference facilities and collaboration spaces. Work is due to be completed by the first quarter of 2023, with the new tenants then able to move in. The fact that we’ve already let seven floors in one go is not just an important first milestone in repositioning the ensemble, it’s also further proof that modern space which is sustainable and flexible remains in demand, even in a challenging environment like the current one.”
Sven Lintl, head of Asset Management Germany at Union Investment.
“Our new Hamburg office will enable us to continue our strong growth,” said YPOG partner Malte Bergmann. He added that “Excellent office facilities represent a genuine competitive advantage for us. As a true Hamburg landmark, TRIIIO is the perfect fit with our corporate culture.”
The free-standing ensemble on Willy-Brandt-Straße is visible from afar and was completed in 1964. Following remodelling, it will provide some 19,500 sq m of rental space. It originally comprised three sections: a 15-storey tower, a two-storey connecting building and a six-storey building. The centrepiece – dubbed the TOWER – is one of Hamburg’s first high-rise buildings and was designed by Hamburg architect Cäsar Pinnau. In 2016, the three existing parts of the complex were upgraded in terms of technology and energy efficiency and a seven-storey office building was added. The first three buildings were given protected status in 2011.
TRIIIO Hamburg is located between the southern edge of the city centre and the northern border of the port area (Speicherstadt warehouse district) within the Hamburg-City submarket. The district has been one of Hamburg’s most sought-after submarkets for many years and achieves the highest prime and average rents.
Union Investment was advised on planning matters by Lüthje Soetbeer Architektur. YPOG received advice from NAI Apollo (brokers/consultants), Capstone Legal Rechtsanwaltsgesellschaft mbH (legal) and W+P workspace consulting GmbH (architects).
Union Investment holds one of the largest office portfolios in Hamburg at over 200,000 sq m. Key properties include the EMPORIO TOWER at Valentinskamp 70 (the company’s biggest holding in Hamburg, offering some 56,000 sq m of rental space), the Chilehaus building (a UNESCO World Heritage Site), the Centurion Commercial Center, the Ericus-Contor building and the Falkenried ensemble.
For Union Investment Institutional Property GmbH