Hamburg, 23 April 2018 – The redos Group from Hamburg has acquired a retail park in the Lower Saxony town of Goslar. It was purchased for the special fund “Redos Einzelhandel Deutschland II”, which the independent retail property specialist set up for institutional investors in September 2017 together with Union Investment under a third-party AIFM mandate. The property, which has a total rental area of around 14,200 sq m, is being sold by a real estate fund. It has been agreed not to disclose the purchase price.
The retail park opened in 2002 at Carl-Zeiß-Straße 4/4a is characterised by a diverse mix of sectors and tenants. The core tenants of good credit standing include EDEKA (Marktkauf), Aldi and McDonald’s. Deichmann, Jeans Fritz and ernsting’s family are also represented in the retail park, in addition to a wide range of food outlets and service providers. The property features more than 700 free parking spaces and comprises a total area of around 50,000 sq m.
“Highly frequented location with strong retail base”
“With the retail park in Goslar, we have acquired a highly frequented location with a strong retail base for our special fund. We anticipate potential for appreciation that we intend to exploit with the ongoing development of space concepts or targeted modernisation work,” said Torsten C. Wesch, Managing Director and Head of Fund Management at redos.
Goslar has a population of around 50,800 and is thus the largest city in the Harz region. It boasts strong retail purchasing power. The extended catchment area comprises as many as 188,000 people. Goslar is also a popular tourist destination, as measured by the figures for guests arriving and staying overnight. The retail park can be easily reached thanks to its convenient location on highway B6.
The redos Group, headquartered in Hamburg, is one of the leading independent retail property specialists, focussing on the areas of investment, asset management, fund management, redevelopment, leasing and advisory business. As an investor and active asset manager, the company covers the entire value chain for large-scale retail properties – for hybrid and conventional shopping centres, retail parks and hypermarkets. redos serves all risk classes and offers every type of investment vehicle for institutional investors. In addition to acting as a co- investor, the company has excellent tenant access and extensive revitalisation expertise. redos can look back on a long track record in the field of restructuring and value optimisation. The retail property specialist currently manages a retail real estate portfolio worth around €3.7 billion at 111 locations throughout Germany. redos manages a total of more than 1.55 million m2 of rental area. With its property database ROB, the company has access to detailed information on around 18,000 retail locations throughout Germany.