Hamburg: US company acquires Kaufhof building

The listed Klöpperhaus in Hamburg’s Mönckebergstraße has a new owner. The American real estate group Tishman Speyer will manage the building at the main train station from now on.

The US project developer Tishman Speyer has bought the former Kaufhof building on Hamburg’s Mönckebergstrasse. The company announced on Friday that he had bought the so-called Klöpperhaus from Württembergische Lebensversicherung for the Tishman Speyer European Real Estate Venture IX Value-Add Fund.

It was agreed not to disclose the purchase price. According to the information, Tishman Speyer has already bought the Gruner & Jahr publishing house in Hamburg in the past 24 months and a commercial building on Gänsemarkt.

Hamburg: Klöpperhaus is to be converted

The Klöpperhaus, designed by the architect Johann Friedrich Höger, was built in 1913 as an office building for the wool trading company Wilhelm Klöpper. In 1965, the Kaufhof Group remodeled the building behind the historic façade and operated it as a department store until it closed in 2020. The listed property has direct access to the main train station and is located at the beginning of Hamburg’s main shopping street.

“We are pleased that we have expanded our portfolio with this extraordinary property,” said Tishman-Speyer Germany boss Florian Reiff. According to the information provided, the mixed-use property will offer modern and flexible office space, curated retail and cultural space as well as potentially residential space.