Savills advised the previous owner on the disposal of the "GOFA" office building in Hamburg's City South. The purchaser of the property is a German investment company. Real estate consultants Bilfinger Real Estate, who were responsible for the asset management of the property since 2007, accompanied and co-ordinated the sale process.

The "GOFA" office complex is situated at Frankenstr. 3-7/Gotenstr. 10-12 in the centre of Hamburg's City South submarket and has a total lettable area of approx. 25,000 sq m.

"The Hamburg investment market continues to enjoy high demand and City South is one of the most sought-after submarkets in Hamburg. An office building such as the "GOFA" with creditworthy anchor tenants and an occupancy level of almost 90% promises a stable cash flow, making the property an extremely attractive investment," says Sascha Hanekopf, Associate Director and responsible for investment in Hamburg at Savills.

"The thirst for commercial property in Hamburg, and particularly office property, continues. Almost €1.8bn was invested in Hamburg commercial property in the first half of the current year, which represents an increase of 39% compared with the corresponding period last year," adds Andreas Wende, COO and Head of Investment Germany at Savills.