Kaiserplatz-Galerie in Aachen given the green light | RetailDetail

Kaiserplatz-Galerie in Aachen given the green light

Kaiserplatz-Galerie in Aachen given the green light

The development of shopping centre Kaiserplatz-Galerie in Aachen (near the Dutch border in Germany) is certain to continue, now that its former owners have sold the project to another developer.

240 million euro investment

Strabag Real Estate and ECE, a major German shopping centre developer, take over the development of the shopping centre from Adalbertstrasse Development Company, in which the two Dutchmen have a considerable interest. Strabag and ECE each take a 50 percent share in the new shopping centre.

 

Kaiserplatz-Galerie will measure 30,000 sqm, comprising about 130 shops as it kicks off in 2015. So far, the 240 million euro project was funded by SNS Property Finance, which has now also withdrawn from the project.

 

Mayor of Aachen relieved

The definitive sales agreement has been well received in certain media. Aachen's mayor Marcel Philipp was relieved: “A huge wasteland in the centre of the city will finally be used again.”

 

When it eventually opens, the new shopping centre will have serious consequences for shops right across the border in the Netherlands, since it will welcome a number of international chain stores that are not yet operating in Aachen, but have outlets in towns like Heerlen, Beek, Roermond or Maastricht. 

Questions or comments? Please feel free to contact the editors


Several candidates to take over Men at Work

12/07/2018

There are several takeover candidates for both the Dutch and the Belgian stores of the bankrupt clothing chain Men at work. The curator is confident an agreement should be reached today in Belgium.

Burberry sales increases thanks to new strategy

11/07/2018

The new strategy of the British fashion brand Burberry starts to render: the company had a 3% increase of revenue in their own stores last quarter. In total, Burberry has now a revenue of 479 million pounds (520 million euros).

FNG moves to Brussels stock exchange

06/07/2018

Belgian fashion group FNG has collected 60 million euros by issuing new shares. The new shares will be traded on the Amsterdam Stock Exchange and - for the first time - on the Brussels Stock Exchange as well.

Athleteshop ends its run

02/07/2018

Dutch sports web shop Athleteshop has filed for bankruptcy, after an abysmal year in which strings of complaints led to all sorts of problems. Social media and review sites were flooded with customers complaining about late deliveries.

Alibaba goes Turkish with stake in Trendyol

29/06/2018

Alibaba is the new strategic partner of Trendyol, one of the best-known e-commerce companies in Turkey. With this partnership, the Chinese retailgroup strengthens its presence in Europe.

Profits H&M Group take another hit

28/06/2018

Swedish fashion group Hennes & Mauritz has published a fourth consecutive quarterly turnover that was lower than expectations. The group that owns chains like COS, Monki and &Other Stories saw its profit drop by 21 %, despite a (slightly) higher turnover.