Credit: Multi Germany

Multi wins centre management contract for Trier Galerie in Germany

Multi Germany GmbH has won the contract for the centre management of the Trier Galerie shopping centre in the southern German city of Trier. Multi will assume the management of this renowned shopping centre from February 1, 2020.

“The takeover of the management of the Trier Galerie is particularly significant for Multi. It is one of the most renowned shopping centres in Germany’s oldest city, and close to the borders of Luxembourg, France and Belgium. Our goal is to carefully develop the high-class retail segment mix, the service and the family-friendly ambience of this shopping centre in the heart of the city. We want to create a centre that reflects the DNA of Trier and its population,” explains Hubert Stech, Managing Director of Multi Germany, which won the tender for the management mandate organised by iMallinvest Europe GmbH.

Realising new ideas and unleashing the full potential of the Trier Galerie

Alexander Tannenbaum, Managing Director of Credit Suisse Asset Management Immobilien Kapitalanlagegesellschaft, is also very pleased with the decision to entrust Multi Germany with the management of the Trier Galerie, and rates the shopping centre as an extremely attractive retail property. “Multi is exactly the right partner to fully exploit the great potential of the Trier Galerie,” says Tannenbaum. “Together we want to realise new ideas, making the most of the current top brands, regional providers, attractive rest and relaxation zones and attractive, varied gastronomy.”

The city of Trier is also of outstanding importance as a regional shopping location. “Trier has an extremely high retail centrality index of 191.5,” Tannenbaum adds. This figure is 95.5 for Rhineland-Palatinate and 100 for Germany as a whole.

Exquisite shopping experience in a prime location near Porta Nigra

The takeover of the Trier Galerie marks the continuation of Multi Germany’s successful expansion. “It is our ambition to become the best full-service mall management service provider in Europe. With the Trier Galerie, Multi will now manage an established and extremely popular shopping centre in the region, which has outstanding structural advantages thanks to its varied retail mix and its prime location near the tourist attraction Porta Nigra,” says Hubert Stech. “According to the ‘Strategic Development and Utilisation Concept Inner City Trier 2025+’, the city can only fulfil its function as a regional centre in the long-term with a functioning and qualitatively strengthened inner city,” Stech adds. The new centre management will make its contribution to achieving this goal, as well as cultivate the connections to Trier’s economic forums.

Three floors, 54 shops and around five million visitors

The Trier Galerie offers 54 highly attractive shops for fashion and textiles, health and fitness, food, gastronomy, services and telecommunications, making it one of the most popular shopping hot spots in the heart of Germany’s oldest city. Opened in 2008, the shopping centre has a catchment area of more than 400,000 inhabitants and has a total area of around 20,000 sq.m on three floors. In addition to the interesting shopping experiences, the Trier Galerie also offers the approximately five million visitors a year highly popular themed events. Thanks to the centre’s outstanding retail area, with direct access to the part of the pedestrian zone with the highest foot traffic of approximately 8,000 people per hour (source: Engel & Völkers Commercial GmbH 2017), the Trier Galerie is also easily accessible by car. The neighbouring City Parkhaus has 950 covered parking spaces.

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

Ticker MORE

Unibail-Rodamco-Westfield continues to push for qualitative optimisation of its portfolio in Germany in 2020

With NordWestZentrum in Frankfurt, Breunigerland Sindelfingen and Breuningerland Ludwigsburg, Unibail-Rodamco-Westfield (URW) secured three important asset management mandates in 2019, thereby strengthening its portfolio in Germany. In addition, the real estate developer and operator completed major modernisation projects in Schönhauser Allee Arcaden in Berlin and Centro in Oberhausen and reached important milestones in Westfield Hamburg-Überseequartier development project. In 2020, URW intends to continue to strategically develop its portfolio and focus on urban district development and the expansion of digital infrastructures.

Inditex is donating €8.5 million to Caritas to support social employment and circular economy initiatives in Spain

On the social employment front, the programme has already enabled more than 2,500 people at risk of social exclusion in Spain to find work thanks to the €11.5 million earmarked to this project by Inditex since 2011.

New Group Managing Director for SevenCapital

Leading UK property investment and development company SevenCapital has appointed Damien Siviter in a newly formed position of Group Managing Director.

Landsec announces 139,900 sq ft of deals across its retail portfolio

Landsec has signed deals with 25 brands totaling 139,900 sq ft across its retail destinations. From September 2019, retailers joining Landsec schemes include Decathlon, Zara and Radley.

Debenhams appoints Abigail Comber as Chief Marketing Officer

Debenhams announces that Abigail Comber is joining the Group on 7 January 2020 as Chief Marketing Officer (CMO).

Newsec Property Asset Management Hires COO with solid Industry Background

Over the past years, Newsec Property Asset Management has grown rapidly mainly through acquisitions. This growth journey is expected to continue and Newsec therefore hires Rikard Nyhrén as Chief Operating Officer, COO.