St James Quarter
On June 24, 2021, St James Quarter, a transformation in Edinburgh, opened phase one via the launch of its 79,000-square-meter shopping galleria. The completion of the first phase of the 156,000-square-meter scheme, developed by Nuveen Real Estate, has created a new retail-led, lifestyle district that integrates and enhances Edinburgh’s city center. The development’s hospitality and residential elements are set to be completed in further phases through to 2022. The shopping galleria features a mix of restaurants, a Bonnie & Wild food hall, Scotland’s first W Edinburgh Hotel, a boutique Everyman Cinema, a Roomzzz Aparthotel, residential apartments, and 1,600 parking spaces. More than 40 retailers welcomed the public on the morning of the opening, many of which are debuting their brands in Scotland for the first time, including & Other Stories, Stradivarius, Bershka, and Pull&Bear. H&M, Mango, Next, including its Victoria’s Secret offering, Rituals, Tommy Hilfiger, Peloton, Salerno, and Nordic Outdoor.
Los Patios de Azahara
On July 7, 2021, Mitiska REIM announced the opening of Los Patios de Azahara, a retail park located in Córdoba, Spain. It is the company’s first retail park development project in Spain and has a GLA of 10,265 sq m, featuring eight retail units and parking for 450 cars. Tenants include MediaMarkt, Jysk, Kiwoko, Sprinter, Èggo Kitchen, Zappas (Grupo Oteros), MaxColchón, and Sakito Home. The site is conveniently located five minutes from the center of Córdoba on the main road to Palma del Río, immediately adjacent to an existing Leroy Merlin store and a McDonald’s restaurant.Jan Du Bois, Managing Director for Iberia at Mitiska REIM, commented: “In Spain and across Europe, retail parks have proven to be one of the most resilient retail formats and have become increasingly recognized as an opportunity for investors. This latest retail park is one of four new developments and expansions that we have opened over the past year, with 15 additional development projects underway across Europe that are scheduled to open in 2021/22.”
Linzerie, a 25-million-euro project officially opened in Linz’s city center on May 19, 2021, following two years of reconstruction. The project was commissioned by Sparkasse OÖ, in cooperation with Plötzl Plötzl Arch+Ing, Nopp Innenarchitektur GmbH, as well as the dan pearlman Group and their creative agency “spring”. With 8,000 sq m of commercial space, it offers ample capacities for approximately 30 businesses in the fields of commerce and gastronomy, and it features a modern segment mix in order to ensure high-quality shopping experiences. The mix includes international gastronomy operators, owner-led shops, new brands, and anchor tenants, such as Hofer. Due to Linzerie’s architectural monument status, the reconstruction process preserved historic features while integrating fresh elements, thereby creating a contrast between tradition and modernity. The light-flooded plaza in the central area of the shopping center enhances the atmosphere, as do the planted wall elements and the entrance area designed by the University of Art and Design Linz. Keeping pace with the times and current trends, Linzerie has future-proofed its site through the application of renewable and energy-efficient resources and technology. This includes modern LED lights and optimized AC to follow suit with international joint efforts to reduce CO2 emissions.
Vivo! Baia Mare
On June 1, 2021, Immofinanz began refurbishment work at Vivo! Baia Mare in Baia Mare in northwest Romania. will add new tenants to the center’s portfolio and will cover a total area of more than 10,000 sq m, which is equivalent to one-third of the GLA of Vivo! Baia Mare. The work is scheduled to be completed in the fourth quarter of 2021. The new space resulting from the refurbishment and expansion of the shopping center will be occupied by a leading domestic food retailer as well as prominent fashion and sports brands, some of which will be making their debut in the local market. Additionally, some of the current tenants have opted to expand the sizes of their stores or to lease other areas in the mall. Vivo! Baia Mare currently has a GLA of roughly 32,000 sq m. In the retail segment, Immofinanz has three other shopping centers in Romania, located in Cluj Napoca, Constanța, and Pitești, and it owns the Stop Shop retail park in Botosani. The malls owned and managed by the company in Romania have occupancy rates of over 98%. In 2019, Immofinanz carried out a similar refurbishment process at Vivo! Cluj Napoca. Upon completion of the work, the modernized area covered 22,000 sq m.
Koszalin Power Center
Following the opening of Galeria Chełm last year and alongside the ongoing construction of Galeria Andrychów, Acteeum Group has continued to develop new investments: Koszalin Power Center, a regional retail park, will cover a catchment area that includes the city of Koszalin as well as the surrounding region in northern Poland. Due to its architectural design, the project, which was developed in cooperation with Leroy Merlin, Agata Meble, and SGI, is already clearly embedded in the commercial landscape of Koszalin. Covering a total area of 38,000 sq m, Koszalin Power Center will offer a wide range of shopping and service facilities provided by various brands. It will include the largest Leroy Merlin DIY hypermarket in the region, measuring approximately 12,000 sq m, a Lidl supermarket that covers an area of around 2,000 sq m, a full-size Agata Meble furniture store, the only one in the region, covering an area of some 10,000 sq m, as well as 30 other shopping establishments within the retail park. The Power Center will be built directly along the junction of the S6 expressway, which connects Szczecin with the Tri-City and Władysława IV street – the main exit route to the Baltic Sea. Not only do both roads serve as the main national routes, but they also fit into the city’s infrastructure as connection lines that are popular among residents. The project is scheduled to open in mid-2022.
City Centre Coventry
Plans to deliver the transformational mixed-use destination in Coventry city center have recently been approved by the Coventry City Council. Shearer Property Group (SPG), the project developer, first revealed its outline plans to the wider public in June 2020, which have already secured £98m in funding from the West Midlands Combined Authority. The scheme will provide approximately 125,000 sq m of floor space, which will include retail, up to 1,300 new homes, a hotel, a cinema, and restaurants along with co-working and community spaces. These proposals will create a new focal point for all of Coventry’s communities to gather together and will attract visitors, with its inviting new public realm and accessible events space at its heart. Guy Shearer at SPG said: “As we move into the next stage of the project, we will be going to the funding and investment market soon, looking to secure a joint venture funding / residential partner and will be working closely with the project team and the community on detailed designs to transform this strategic site in the city.” SPG has seven years of experience in Coventry, working on Cathedral Lanes and Upper Precinct and bring a track record in unlocking regeneration for complex mixed-use sites, including Southgate Centre Bath, Grand Arcade Cambridge, Parkway, Newbury, and the former Dickins & Jones department store on Regent Street in London.
Pedestrian zone / Tegel Quartier
On July 14, 2021, HGHI Holding GmbH celebrated the soft opening of the partially completed pedestrian zone Gorkistraße / Tegel Quartier in Berlin. The finalization of the entire project is planned for 2022. The pedestrian zone Gorkistraße / Tegel Quartier stands for the extensive modernization and expansion of the complete approximately 250 m long pedestrian zone Gorkistraße, including the former shopping center Tegel-Center, the former department store Hertie, as well as the Tegel’s traditional market hall. The revitalization of the pedestrian zone is one of HGHI’s largest projects and consists of a total of four extensive construction phases. Around 36,000 sq m of retail space and 28,000 sq m of office space are being created on a total gross floor area of around 90,000 sq m. More than 80 percent of all space has already been leased. Well-known retailers such as Rewe, Peek & Cloppenburg, and dm as well as the office tenant Deutsche Rentenversicherung Bund are tenants. Thanks to its immediate proximity to the suburban train and subway network as well as numerous bus lines, the shopping street has optimal connections to local public transport.
stilwerk goes Rotterdam. The Dutch metropolis will be home to a new design destination that combines retail and hospitality under one roof. International interior retailers, service providers and manufacturers now have the chance to secure a place in Northern Europe’s trendy design hotspot. stilwerk Rotterdam presents its entire brand universe across 8,500 sq m of retail space and seven floors. The design destination offers space for a varied range of products in segments such as living and lifestyle, dining, workplace and homeware. Whether viewed from the perspective of the immediate neighborhood or international design professionals, it presents itself as an open cultural epicenter and also provides stimuli for innovative developments in the creative industries with events, workshops and collaborations. Rotterdam is not only the largest seaport in Europe, it is also a dynamic metropolis that is increasingly repositioning itself as the cultural capital of the Netherlands. The port industry has withdrawn from the cityscape in recent years. These areas are developing into modern districts that are being settled by young service companies and creatives. When it came to choosing the latest stilwerk location, the city of Rotterdam impressed as an experimental and design-oriented hotspot in Northern Europe.