It is one of the most expensive shopping miles in Germany and one of the ten leading luxury shopping streets in Europe: Located at "Neuer Wall 54" in Hamburg, QUEST Investment Partners has purchased property in a premium location with approximately 4,650 sqm retail and office space as a ground lease holder. Former owner of the property was MEAG, asset manager of Munich RE and ERGO. The property will be owned by a family company, which has agreed with QUEST to issue a heritable building right until 2120. 65 percent of the area is office space, 35 percent retail space. Long-term tenant of the entire retail space is the Danish furniture store Illums Bolighus.
The seven-story building was completely refurbished in 2000. The project developer intends to re-let the vacant office space and upgrade the entrance area and the common areas.