Karstadt & Freudenberger overcome a significant obstacle for numerous unanswered queries

In a significant move for the city's future, Harburg district office has acquired two central plots of land through an "immobilien strategy." The most prominent of these acquisitions is the Freudenberger site, estimated to have cost over 40 million euros, and the adjacent Karstadt complex.

The city did not purchase the Freudenberger site outright but acquired it through a share deal, which may have saved on real estate transfer tax. The same approach was taken with the Karstadt complex, with an agreement reached with the owner. All obligations of the former owners, including responsibility for soil contamination, were transferred in the share deal.

The long-term impact of these purchases on the city's finances remains uncertain, but it is likely that a significant amount has been spent on both acquisitions, although the purchase prices are not being disclosed. The Freudenberger site is expected to require extensive and costly soil remediation.

The district office aims to develop the area around the Freudenberger site as an economically attractive location, with recreational uses, sports, and educational functions conceivable. Due to noise protection reasons, it is unlikely that apartments will be built on the Freudenberger site. Instead, only "special living forms" are conceivable.

The Karstadt site, located at Schloßmühlendamm, will need a new development plan if residential use is to be considered. SPD faction leader Richter has envisioned a "modern mix of living, commerce, and socio-cultural uses" for the site.

Seevestraße, a street adjacent to the Freudenberger site, will need to be relocated due to the development. The city exercised its right of first refusal on both the Karstadt site and the company premises of Freudenberger on Seevestraße.

The most likely investor to implement the ideas and carry out the mentioned real estate developments in Harburg is the DWS Group, a leading European asset manager, which recently acquired new residential developments from the P&P Group.

Frank Richter, chairman of the SPD fraction in the district assembly, called the purchases by the city a "stroke of luck." The district office is currently bringing these ideas into the ongoing planning process within the framework of VU-Harburg. The city's vision is to create a vibrant, economically attractive, and sustainable future for Harburg.

Karstadt & Freudenberger overcome a significant obstacle for numerous unanswered queries