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New hotel and rental apartments: Construction site on Alter Wall Hamburg is becoming an attractive investment opportunity.
According to a report from www.abendblatt.de, Art-Invest Real Estate is planning to develop the area between Rödingsmarkt and Adolphsplatz on Alter Wall in Hamburg. The former Sofitel hotel is set to be converted into a 188-room The Hoxton boutique hotel, expected to open by mid-2026. The hotel is operated by the Ennismore Group and offers a unique design and dining concept. In addition to the hotel, apartments and office space are also planned, which should be completed by the end of 2026. The entire project covers around 50,000 square meters of usable space and is expected to cost around 300 million euros. The impact of this project on the real estate market in Hamburg could be diverse. …
New hotel and rental apartments: Construction site on Alter Wall Hamburg is becoming an attractive investment opportunity.
According to a report from www.abendblatt.de, Art-Invest Real Estate is planning to develop the area between Rödingsmarkt and Adolphsplatz on Alter Wall in Hamburg. The former Sofitel hotel is set to be converted into a 188-room The Hoxton boutique hotel, expected to open by mid-2026. The hotel is operated by the Ennismore Group and offers a unique design and dining concept. In addition to the hotel, apartments and office space are also planned, which should be completed by the end of 2026. The entire project covers around 50,000 square meters of usable space and is expected to cost around 300 million euros.
The impact of this project on the real estate market in Hamburg could be diverse. On the one hand, the revitalization and modernization of the Old Wall will help to increase the attractiveness of the district and attract new investors. The development of The Hoxton Boutique Hotel will help strengthen Hamburg as a tourist destination and create new jobs in the catering industry. In addition, the planned rental apartments will help to relieve pressure on the housing market in Hamburg and offer more affordable living space. However, office space may face challenges due to the current work-from-home trend and the oversupply of office space in the market.
Overall, it is expected that the real estate project on Alten Wall will have a positive impact on the real estate market and the industry in Hamburg. The development of the district will lead to an upgrading of the surrounding properties and create new opportunities for investors and companies. The project's planned sustainability strategy, such as the installation of a photovoltaic system and the reuse of building materials, will also help make the real estate market in Hamburg more sustainable.
Source: According to a report from www.abendblatt.de
Read the source article at www.abendblatt.de