Union Investment compera da Rockspring un centro commerciale a Esslingen, in Germania

Union Investment Real Estate GmbH is acquiring the Das ES! shopping centre in Esslingen from a fund managed by Rockspring Property Investment Managers. In doing so, the Hamburg-based real estate investment manager is adding a successful retail property to its existing EUR 6 billion shopping centre portfolio. Opened in October 2002, Das ES! enjoys strong footfall, with 6.5 million people visiting the shopping centre annually. “We are delighted to have been able to secure this stable investment at a location with excellent future prospects for our open-ended real estate fund Unilmmo: Deutschland,” said Henrike Waldburg, head of Shopping Centre Investment Management at Union Investment. Stuart Reid, Rockspring partner and manager of its Berlin office, said: “Since acquiring the centre in 2011 we have successfully completed a number of management measures and signed several new leases. We extended H&M’s space and improved the fashion mix. We are very pleased with the property’s performance.”

 

With 23 shops covering around 23,113 sq m of retail space, Das ES! is the main focus of Esslingen’s retail landscape. Its mix of tenants across both German and international brands means it is perfectly adapted to local demand. Anchor tenants include major chains such as Saturn, H&M, C&A and Alnatura. “Thanks to strong demand, the attractive inner-city location and good accessibility, Das ES! offers a high level of income stability and is also an investment with exciting potential,” commented Henrike Waldburg. The population in the Das ES! catchment area shows steady growth and the region’s diverse economy, which has a strong emphasis on automotive and mechanical engineering, is reflected in its fundamentals – unemployment is currently 3.5 per cent, one of the lowest rates in Germany.

Located in the heart of Esslingen’s pedestrian zone, directly opposite the station, the Das ES! shopping centre benefits from excellent public transport links and is also easily accessible by car via the nearby motorway.

JLL advised Union Investment on the deal, and Rockspring was advised by CBRE.

 

Source : Company

centro commerciale a Esslingen, in Germania

centro commerciale a Esslingen, in Germania

Testata giornalistica non registrata ai sensi dell’Art.3 bis del D.L. 18 maggio 2012, n. 63 convertito in Legge 16.07.2012 n°103

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