Altona's Aerial Arrival: Estimated Expense for the Holsten District's Acquisition by the City
### Hamburg's Holsten Site Development: Adler Group, New Owners, and Public Petition
The former Holsten Brewery site in Altona, Hamburg, which has been idle for five years, is set to undergo development as the Adler Group, the current owner, has expressed its intention to sell the property. The site, which spans over 86,000 square meters, was sold by Carlsberg Brewery in 2016.
Rolf Bosse, chairman of the Hamburg Tenants' Association, has criticised the Adler Group for potentially profiting from the sale of the site, raising concerns about the future of the historically significant buildings on the property. In response, a petition has been launched by the Hamburg Tenants' Association, along with the monument association and other initiatives, calling for the preservation and retention of old buildings, the creation of a lively and affordable neighbourhood, and environmentally friendly development.
Negotiations about the purchase of the former Holsten Brewery site are now underway between Saga, Quantum-Immobilien AG, and the Adler Group. Saga, the city's housing development company, and Quantum-Immobilieng AG were granted exclusivity for the purchase of the site three years ago, but the Adler Group had previously been reluctant to sell.
If the sale goes through, it is expected that more than 1300 new apartments could be built on the site, a project that the Adler Group has not been able to implement for years. The city has the right of first refusal in case of a sale of the former Holsten Brewery site, although Finance Senator Dressel has stated that exercising a municipal right of first refusal is a last resort.
It remains unclear if the Adler Group will join the speculation game, but the subsidiary of the company, which currently owns the site, has been facing financial difficulties. The city is examining the right of first refusal, and for up-to-date information on this topic, consult official Hamburg city resources, local news, or recent council decisions.
The potential sale of the former Holsten Brewery site, currently owned by the Adler Group, might open avenues for real-estate investing, as negotiations between Saga, Quantum-Immobilieng AG, and Adler Group are underway. With over 1300 new apartments proposed for the site, the financial implications for the housing market could be substantial. The Hamburg Tenants' Association, in its petition, has emphasized the need for preserving old buildings, promoting a lively and affordable neighborhood, and ensuring environmentally friendly development, raising concerns about the Adler Group's potential financial motives.
