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Köhler & von Bargen and PICOM acquire the Sharp site in Hamburg

Project developer Köhler & von Bargen Immobilien OHG and fund manager PICOM Vermögensverwaltungsgesellschaft mbH from Hamburg have acquired a 33,000 m² site in Hamburg  from electronics company Sharp. The transaction took the form of a sale and leaseback  deal.

Sharp intend to remain in their current office building for the time being and in two years  relocate on-site to a new office building constructed by Köhler & von Bargen. On the  remainder of the site Köhler & von Bargen and PICOM plan to develop a 700-apartment  residential and commercial scheme. Sharp were advised by Cushman & Wakefield and Hogan  Lovells LLP International. The purchase price is undisclosed.