Hamburg: Building permit for development of Unileverhaus site
Union Investment Real Estate AG has received a permit to revitalize the high-rise at Dammtorwall 15 known as the “Unileverhaus.” The landmarked high-rise built in 1965 is to be supplemented next year by a separate new building with a hotel, apartments and offices. Completion of the project, valued at approximately €270mn and to be based on green construction standards, is scheduled for 2011. Union Investment said it is nearing the conclusion of negotiations for a long-term lease to Scandic Hotels, the leading Scandinavian operator. The project, until now called “Central Plaza,” is to bear the name “Emporio.” Nord Event GmbH was obtained as the ensemble's first tenant. Dr. Frank Billand, a member of the managing board of Union Investment Real Estate AG, asserted that even before the beginning of official marketing, demand for leases in the Emporio is enormous. “Users of properties in very high-quality locations such as the ‘Emporio’ are placing more and more emphasis on the sustainability of buildings,” he said. After its completion, in 2011, “the Emporio will be one of the most sustainable building complexes in Hamburg.”