Taylor Wessing has advised Art-Invest Real Estate on investment and tax law matters in connection with the acquisition of the listed Deutsche Bank building complex at Alter Wall 37–53 / Adolphsplatz 7 / Mönkedamm 2 in Hamburg. The parties have agreed not to disclose the purchase price.
The revitalisation of the complex, in accordance with conservation guidelines, is scheduled to take place between 2028 and 2031. Once the work is complete, the property is expected to offer around 16,450 m² of lettable space. Deutsche Bank will continue to use the site on a long-term basis and, according to Art-Invest, will occupy around 75 per cent of the space.
As part of the modernisation, plans include a covered atrium, new communal areas, a roof terrace, a new bank branch and a café open to the public on the Alter Wall. The property is situated in a central city-centre location between the Town Hall, the Chamber of Commerce, the Neuer Wall and the Nikolaiquartier.
With this acquisition, Art-Invest is expanding its property portfolio to complete the development of the Alten Wall district, which covers a total of around 90,000 m² of gross floor area. The company has been active there for many years and is already playing a key role in driving the district’s development through several projects.
Legal advisors to Art-Invest Real Estate
Taylor Wessing Germany: Led by Dr Anja Fenge (Partner, Real Estate, Hamburg), Dr Verena Ritter-Döring (Partner, Financial Markets Law), Julian Ludwig (Salary Partner, Tax), both based in Frankfurt
