Art-Invest Real Estate Marks Topping-Out at Alter Wall 40 Mixed-Use Development in Hamburg

HAMBURG, Sept. 15, 2026 — Art-Invest Real Estate celebrated the topping-out of its Alter Wall 40 mixed-use development in Hamburg's city center on Monday, marking a significant construction milestone for a project that will add approximately 40,000 square meters of office, hotel, residential, retail, and food-and-beverage space to the Alter Wall boulevard. Completion is targeted for mid-2027.

The ceremony was attended by Hamburg Bürgerschaft President Carola Veit, Dr. Markus Wiedenmann, CEO of Art-Invest Real Estate, and Martin Wolfrat, Managing Director and Head of Hamburg at Art-Invest Real Estate, along with guests from government, business, and civic organizations. Coinciding with the event, the adjacent Haus der Bürgerschaft at Alter Wall 38 was formally placed into operation.

Project Scope and Use Mix at Alter Wall 40

Located at Alter Wall 40, 20457 Hamburg, in the central business district, the development sits on a site of approximately 5,341 square meters and encompasses a diverse program of uses. Consulting firm Accenture has signed a lease for roughly 9,000 square meters of office space, serving as the project's anchor office tenant. Art-Invest Real Estate said it is in active discussions with additional prospective office tenants for the remaining floors.

The Hoxton, a lifestyle hotel brand, will occupy approximately 11,000 square meters across a retained hotel tower, offering 188 guest rooms. A publicly accessible rooftop floor will feature gastronomy and event space with panoramic views of the Elbphilharmonie, St. Michaelis, and Hamburg's Rathaus.

The residential component comprises 84 apartments ranging from approximately 25 to 80 square meters. Art-Invest Real Estate described the residential element as a deliberate effort to reintroduce inner-city living to a location that had been predominantly commercial, with the goal of activating the area beyond standard office hours. The project also includes ground-floor retail and restaurant space, underground parking for approximately 70 vehicles, an electric vehicle charging infrastructure, and smart-building technologies.

Construction began at Alter Wall 40 in mid-2023. As of the topping-out, the structural shell across all buildings is complete, with facade work and interior fit-out progressing in parallel.

Haus der Bürgerschaft Opens at Alter Wall 38

The Haus der Bürgerschaft at Alter Wall 38, which offers approximately 13,000 square meters of usable space, consolidates Hamburg's Landtag administration and parliamentary factions under a single roof in close proximity to the Rathaus. The traditional Brauhaus Joh. Albrecht has also returned to its historic location in the building's ground and basement floors. The topping-out for Alter Wall 38 was held in 2024, concurrent with the groundbreaking for Alter Wall 40.

Alter Wall Quarter to Exceed 90,000 Square Meters

With the delivery of Alter Wall 40, the broader Alter Wall quarter — which Art-Invest Real Estate has been developing for more than a decade — will grow to more than 90,000 square meters. The first phase of the project, the Alter Wall 2–32 ensemble, encompasses approximately 39,000 square meters across five interconnected buildings, including roughly 18,000 square meters of office space and 12,000 square meters of retail along approximately 150 meters of street frontage. The addition of Alter Wall 40 and the Haus der Bürgerschaft brings the cluster's total above the 90,000-square-meter threshold.

Art-Invest Real Estate said the Alter Wall quarter will continue to expand with a forthcoming project on the opposite side of the street, at the site of Deutsche Bank's historic Hamburg headquarters.

"The Alter Wall stands as an example of our ambition at Art-Invest Real Estate: we want to create long-term value for cities, users, and investors at exceptional locations, not just develop real estate," said Dr. Markus Wiedenmann. "Here, we have succeeded in advancing a historically significant piece of the inner city step by step over many years, combining diverse uses into a vibrant whole. With Alter Wall 40, we are realizing another decisive building block of this quarter. That makes this project a special reference in our company's history, beyond Hamburg."

"With the topping-out at Alter Wall 40, what has been important to us from the beginning becomes visible: we have not developed individual properties side by side, but have created a new, vibrant urban space step by step," said Martin Wolfrat. "From Alter Wall 2–32 through the Haus der Bürgerschaft to Alter Wall 40, work, living, hotel, gastronomy, retail, art, and culture come together. With The Hoxton, the two office buildings, and the new apartments, we are completing this section of the Alter Wall and at the same time creating a strong urban link between Rathausmarkt toward Rödingsmarkt and HafenCity."

Carola Veit, President of the Bürgerschaft, said: "Where roughly ten years ago there was still a barely animated street with a convoluted parking lot that looked like the unglamorous backyard of the Rathaus, Art-Invest Real Estate is developing a new boulevard at the Alter Wall that once again invites people to stroll between the Alster and the Elbe. With the Haus der Bürgerschaft and the new building in its immediate vicinity, the final mosaic pieces are now being added."

About Art-Invest Real Estate

Art-Invest Real Estate is a long-term-oriented investor, asset manager, and project developer focused on properties in strong locations with value-add potential. The firm operates across metropolitan regions in Germany, Austria, the United Kingdom, and Scandinavia, pursuing a "Manage to Core" investment strategy with institutional investors, joint-venture partners, and proprietary capital. Founded in 2010 by its managing shareholders and the Zech Group, the firm manages a real estate portfolio of approximately 12.5 billion euros and employs more than 300 people. Since 2012, it has launched more than 25 investment vehicles for institutional clients including pension funds and foundations through its own capital management company.

Sources

Art-Invest Real Estate — Richtfest am Alten Wall 40 (Sept. 15, 2026)