Images: ILG
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ILG acquires further part of Rathaus-Galerie Dormagen, Germany

Munich-based ILG Group has bought the remaining part of the Rathaus-Galerie in Dormagen as of December 1, 2018 from a private owner, for the open-ended special-AIF “ILG Einkaufen Deutschland I”.

The Rathaus-Galerie is located in a prime downtown location, directly adjacent to the pedestrian area and the town hall. C&A, H&M, Cult and Aldi, among others are the anchor tenants of the center. The property was originally designed by developers, SASS Rathaus-Galerie Dormagen GmbH & Co. KG and Mr. Walter Allard, jointly developed in two construction phases A and B and completed in 1995.

The ILG Group already acquired component A that has a leasable area of 11,150 sq m, in 2017. The newly acquired part features over 18 commercially used areas on the ground floor and the first floor with approx. 2,425 sq m of rental space and 19 apartments. Through this transaction, for the first time since the opening in 1995, both parts of the Rathaus-Galerie are now in the hands of a single owner. This allows for the positioning of the property in the relevant catchment area, as well as a complete refurbishment.

The Rathaus-Galerie will furthermore be entirely managed by ILG. The planned refurbishment concept will, for example, improve the quality of stay, optimize the entrance situation to the pedestrian area, optimize the mix of tenants across both parts of the building and thus enable better customer-oriented positioning in the catchment area. Mr. Walter Allard made a lasting and beneficial impact on the face of the city of Dormagen through the construction of the Rathaus-Galerie. The Allard family welcomes the future development of the Rathaus-Galerie for the benefit of the City of Dormagen.

 

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