Brestadt Company takes over historic Horten edifice situated in Bremen's urban area
In a significant move for urban development in Bremen, the city-owned development company, Brestadt GmbH, has announced the acquisition of the former Horten building, currently known as Galeria Kaufhof, located at Papenstraße 5 in the heart of the city centre. This purchase is considered one of the most significant urban development projects in Bremen's city centre in the last 50 years.
The acquisition, announced on November 20, comes with an estimated price tag of approximately 37.2 million euros, as per Branicks Group AG. The Horten property, situated in a central location, borders the Parkhaus project on one side and the Hanseatenhof, Knochenhauerstraße, and Lloydpassage on the other.
The goal of this project is to revitalize a large central area of Bremen, including the Horten building and the Parkhaus project. The ambition is to shape a city centre that serves as a future-proof hotspot for living, working, and economy, and as a vibrant place to experience. The project involves an innovative mix of uses to breathe new life into this central area.
Brestadt, known for its focus on urban development projects that include mixed-use renovations, modern office spaces, and enhancements to public infrastructure, aims to strengthen its role as a driving force for innovative urban development in Bremen. The company's representatives, Bernd Botzenhardt and Heinz Riering, have emphasised the strategic importance of the acquisition.
Interim uses of the spaces within the Horten building are planned to prevent long-term vacancy. The transitional solutions will be developed and implemented in accordance with the technical and legal framework conditions of the project.
The exact plans for the revitalization of the former Horten building and the Parkhaus Mitte area are yet to be detailed. For precise and up-to-date details, consulting Brestadt GmbH’s official communications or the local Bremen city planning office would provide the most authoritative information.
This historic opportunity for urban development in the heart of Bremen is expected to take effect from January 1, 2025, when the takeover of the property from the current owner, Branicks AG (former DIC), is scheduled to occur. The project aims to initiate a sustainable turnaround for the city centre, positioning it as a future-proof hotspot for living, working, and economy, and a vibrant place to experience.
The acquisition of the former Horten building, announced on November 20, also includes the strategic planning for interim uses within the property to prevent long-term vacancy. With the project expected to commence from January 1, 2025, there are plans to breathe new life into this central area, turning it into a future-proof hotspot for not just living and working, but also sports, aiming to foster a vibrant and dynamic city center.
