Ticker

GPEP TAKES OVER PORTFOLIO & ASSET MANAGEMENT MANDATE FOR SUPERSTORES AND RETAIL PARKS

GPEP GmbH (“GPEP”), has taken over the portfolio as well as the asset and property management rights for a portfolio of 3 superstores and 3 special retail centres with strong anchor tenants on behalf of an institutional investor.

The 6 properties, having a combined rental space of over 54,000 sq m, generate annual rental incomes in excess of 5.1 million euros.

The goal is the further technical and economic optimisation of the properties through extensions and alterations. This is intended to result in a near-term increase in the occupancy rate from its present level of above 90% to almost 100% on the one hand as well as increased property values over the long term on the other hand.

An attractive tenant mix, including food outlets, and a welcoming ambience should help retain existing tenants over the long term while at the same time gaining new tenants.

The properties are located in Lower Saxony, North Rhine-Westphalia, Rhineland- Palatinate, Hesse and Bavaria and are easily accessible and visible. Around 40% of the space is leased to food retailers, including Kaufland, real and REWE. The remaining, mixed-use, areas are, at just under 60%, operated by retailers in the areas of textiles, household goods, DIY and automotive.

Jochen Friedrich, Managing Director of GPEP. Image: GPEP
Jochen Friedrich, Managing Director of GPEP. Image: GPEP

“We are now also seeing an increase in the targeted demand for active asset management in the retail sector. To optimise their portfolios, investors are using specialists”, explained Jochen Friedrich, Managing Director of GPEP, whose areas of responsibility also include marketing and sales.

“In contrast to residential and office properties, the high profile of the potential tenants such as chain stores or textile chains is just as important to generate maximum returns for investors as is the assessment of the location and the technical expertise”, added Herwart Reip, Managing Director of GPEP GmbH, whose areas of responsibility also include due diligence as well as portfolio management and financing.

Sign up for our ACROSS Newsletter. Subscribe to ACROSS Magazine.

Ticker MORE

Eataly Paris Marais, the Italian marketplace, will open its doors on April 12, 2019

The Galeries Lafayette group, which has an exclusive franchise agreement to operate the Eataly brand in France, will open its first Italian marketplace in the heart of the Marais district in Paris, on Friday, April 12, 2019.

Cushman & Wakefield Welcomes Back Gilliard to London Retail Team

Cushman & Wakefield has re-hired Duncan Gilliard as a Partner in its Central London retail team to bolster its market leading offer.

Market Halls launches new concept – The Hall – at intu Lakeside

intu has signed up the first of a new concept from thriving food hall business Market Halls for intu Lakeside’s £72 million leisure extension.

Construction of Galeria Chełm has started

Construction works of the Acteeum Group and Equilis Polska joint project – Galeria Chełm – have just begun. Investors have signed a contract with KARMAR S.A. which is becoming the general contractor of the project. Galeria Chełm with a GLA of 17.5 thousand sq m will be the first shopping center in Chełm and at the same time the first joint venture of both investors.

City Point Bochum shopping centre turns 30: That calls for a celebration!

City Point Bochum shopping centre is turning 30 – that calls for a celebration! Between 2 and 30 March 2019, the City Point Bochum shopping centre in the heart of Bochum will offer numerous activities for visitors of all ages.

Swiss eyewear brand VIU signs for London flagship store

Swiss premium eyewear label, VIU, has leased a unit in London’s Soho for its flagship UK store.