NEW STYLE ON GROSSER BURSTAH
In addition to Sophienterrassen in Harvestehude Frankonia Eurobau AG is starting a new premium property development in the centre of Hamburg. €100 million are being invested to create new living and working spaces with a very special character for the city.
Hamburg, 6th November 2012 - Grosser Burstah is on its way to getting back its old style. Next to Rödingsmarkt, the Town Hall and the Chamber Of Commerce Frankonia Eurobau AG are building two residential and commercial buildings with almost 20,000 m2 of floor space. On the ground floor of the sites that go from number 18 to 34 Grosser Burstah there will be shops, restaurants and a mall, which will restore the street to the bustling boulevard it once was. At the beginning of the 20th Century Grosser Burstah was one of the most elegant shopping streets in Hamburg and used to be connected to the independent district of Altona by horse-drawn tram.
“We want to bring one of the best addresses in Hamburg back out of the shadows”, said Uwe Schmitz, chairman of Frankonia Eurobau AG. The aim is to return Grosser Burstah to the historical significance it once had as the extension of the shopping thoroughfare Mönckebergstraße and the link to the more exclusive shopping streets Neuer Wall and Grosse Bleichen.
Full planning permission has been given and the work is in full swing. House number 34 has already been demolished, the buildings at number 18 to 32 are being gutted and the concrete removed. The total investment in the project will be around €100 million.
As with Sophienterrassen the developer Frankonia provides a solid basis for financial stability with a high rate of investment in their own projects, as in this case with around 50%. The development is expected to be completed by summer 2014.
Special emphasis will be placed on inner city living. 24 lofts with very special features will be created on seven floors. An architectural extravagance of these lofts will be bathrooms in the shape of a cube in the centre of the room. Other highlights are the roof terraces on top of the commercial buildings and the penthouse apartments with a spectacular view over the centre of Hamburg to the Alster Lake.
Picture 1: The residential and commercial development, in which Frankonia Eurobau is investing €100 million, is expected to be completed by the summer of 2014 and bring new life to Grosser Burstah.
Picture 2: The roof terraces of Frankonia’s new office and residential development on Grosser Burstah will have a fantastic view of Hamburg’s inner city.
Picture 3:This is what it will look like when Frankonia Eurobau’s building complex on Grosser Burstah is finished in 2014.
7 November 2012