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«BAUWERT Investment Group just sold the new Peek & Cloppenburg fashion store in Kassel to Warburg - Henderson Kapitalgesellschaft für Immobilien, a Hamburg-based real estate investment company. The buyer of the new four-storey structure, designed by the Roller architectural firm, is a specialist for cross-European real estate funds. The gross retail space of 7,300 square metres will be solely used by the high-street apparel chain Peek & Cloppenburg. It was agreed not to disclose the purchase price. Hamburgische Immobilien Handlung (HIH) facilitated the transaction on the buyer side.
“The early sale of this project on Königsplatz underlines the fact that the demand among institutional investors for high-end retail properties in prime locations is higher than ever,” said Bauwert spokesman Henning Hausmann.
Königsplatz is located in the very heart of Kassel, and therefore counts among the cities most attractive retail locations. The facade of the modern building now under construction on a 1,600 square metre plot will feature high-quality ashlar cladding and extensive glazing. In the process, the historic Henschelhaus dating back to 1921 will be reconstructed in its original appearance, and integrated into the overall project.
The building’s completion is slated for fall 2011».
(CS della Società)
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