benchmark. builds Moxy and Residence Inn in Hamburg-Altona


Frankfurt am Main / Hamburg, 16 Januar 2019

benchmark. builds Moxy and Residence Inn in Hamburg-Altona

benchmark. REAL Estate Development GmbH (benchmark.) is developing a Moxy hotel and a Residence Inn boarding house in Hamburg-Altona. The name of the project is “Kühnehöfe”. benchmark. has completed a 25-year rental agreement with Odyssey Hotel Group GmbH and operations are scheduled to commence in the first quarter of 2021. benchmark. acquired the site from the i Live Group shortly after commencement of the development works. The consulting firm, Nexus Capital Advisors, and the Munich law practice, DLA Piper, accompanied the transaction on behalf of the vendor. The law offices of Hogan Lovells provided advisory services for the buyer.

With a proposed effective floor area of around 7,300 m², the property at Tasköprüstrasse 10 will provide space for 219 hotel rooms and 44 boarding house apartments. benchmark. will be building a single-storey underground car park for guests, with parking spaces for up to 79 cars, as well as adequate parking facilities for bicycles.

Götz U. Hufenbach, managing partner of benchmark., says: "With our first project in Hamburg, we are bringing two young and dynamic brands from Marriott to Altona. The excellent transport connections and the high-class accommodation offering make this an attractive location for travellers in numerous target groups." The Moxy falls into the Lifestyle Economy Hotel segment. "Hotels in this category are characterized by moderate room rates and interiors appointed with modern, designer-line furnishings", says Götz U. Hufenbach. The Residence Inn involves a long-stay concept. The apartments are larger than comparable hotel rooms and, among other features, are equipped with compact kitchenettes. "Boarding houses, such as the Residence Inn, are of interest to private and professional travellers wishing to stay in one location for several days or weeks at a time", explains the benchmark. managing partner.

The project location forms part of the inner-city redevelopment zone on the former company site of the food manufacturer, Kühne KG. The new building will be erected parallel to Stresemannstrasse, one of the most important arterial roads in Hamburg, offering good access to the A7 autobahn. It is around 300 metres away from Ottensen rapid transit station and about a kilometre from Altona regional railway station.