Union Investment has agreed a lease for a total of 7,566 square metres of office space in the EMPORIO Tower in Hamburg with Deutsche Bank. The major bank will utilise these premises starting from March 2027. The lease agreement has an initial term of five years and includes options for extension.
The EMPORIO Tower, constructed in 1963, comprises 23 above-ground floors. Between 2009 and 2011, the building underwent extensive modernisation, during which two floors were added. Since 2001, the office tower has been a listed building.
Attractiveness of the location and the property
Christian Jansen, Asset Manager Tenant Relations at Union Investment, commented on the new letting. He highlighted that it underscores the enduring attractiveness of the location and the property. Office buildings in well-connected areas, which also offer modern and flexibly configurable spaces, remain in demand even under challenging market conditions. In the EMPORIO Tower, it is possible to achieve rents at Hamburg's top level and realise further rental potential.
According to Union Investment, this letting also allowed them to minimise the risk of lease expiries until 2032. The EMPORIO Tower is the largest property in Union Investment's Hamburg portfolio and is located at Valentinskamp 70. It has been part of the UniImmo: Deutschland open-ended real estate fund's portfolio since 1989.
Sustainability and Hamburg portfolio
The building has been awarded the Platinum certificate for Leadership in Energy and Environmental Design (LEED) and currently boasts full occupancy. Union Investment manages a total of approximately 219,000 square metres of office space in Hamburg. In addition to the EMPORIO, the company's Hamburg portfolio also includes the Chilehaus, the TRIIIO Hamburg, the Ericus-Contor, and the Falkenried-Areal.
