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WFW advises Frasers Hospitality on the acquisition of the former regional finance office in Hamburg for development into a luxury hotel

20 March 2015

EN | DE

The Frasers Hospitality Group (“Frasers Hospitality”) instructed Watson Farley Williams (“WFW”) to advise on all legal and tax matters regarding its recent acquisition of the former regional finance office (Oberfinanzdirektion) at Rödingsmarkt in Hamburg, Germany. The historic building will be redeveloped into a five-star luxury hotel residence.

The landmark building, which was erected between 1907 and 1910 and offers 15,000m2 of floor space, was used until 2012 as the regional finance head office of the revenue authority in Hamburg. The Free and Hanseatic City of Hamburg and Federal Agency for Public Property (Bundesanstalt für Immobilienaufgaben) sold the building to Munich-based investors from which Frasers Hospitality then acquired the building. Frasers Hospitality will transform the building into a luxurious hotel as part of their “Frasers Suites” brand. The magnificent building, which is expected to open in 2017, is in a prominent central location between the town hall and the new Elphilharmonie concert hall.

Frasers Hospitality is part of the group of companies headed by Fraser Centrepoint Limited, which is listed on the Singapore stock exchange. To date, Frasers Hospitality has more than 16,000 luxury serviced residence units in 92 hotels across Asia, Europe and the Middle East. In Europe, the group currently has 16 hotel residences in major cities including London, Paris, Barcelona, Istanbul, Budapest, Edinburgh and Glasgow. Further expansion plans for Germany include the opening of Capri by Fraser in Frankfurt in 2015 and Fraser Place Berlin in 2016.

The WFW Hamburg team was led by partner Dr. Sebastian Baum (Corporate/Real Estate). He was supported by partner Verena Scheibe (Tax) and associates Florian Leonhard, Ursula Staab (both Corporate/Real Estate).  Senior associate Dr. Henrik Lay and associate Timo Kopmann also advised on tax matters.

WFW Hamburg partner Dr. Sebastian Baum comments: “We are delighted that the acquisition of this landmark building by our long standing client Frasers Hospitality closed successfully. We see the trusted cooperation between the international development team of Frasers Hospitality and WFW as a valuable relationship that provides enrichment on both sides. As Hamburg locals we also very much welcome the planned development.”