Overview
- City authorities confirmed the purchase of the former Pella Sietas yard in Neuenfelde for roughly €20 million as the highest bid.
- The 147,690-square-meter Elbe property will remain municipally owned and be largely leased under hereditary building rights for industrial activity.
- Sections of the site are earmarked for flood protection, and the adjacent public refugee accommodation will replace old containers with modern units.
- Hamburg plans to preserve the listed 1965 Jucho portal crane in its current location.
- Insolvency administrator Achim Ahrendt said sanctions prevented a conventional investor sale because the site was encumbered by a lien from Russia’s sanctioned Sberbank.