The building, which has been used exclusively by C&A up to now, will accommodate dm (drugstores), food retailer Rewe and Woolworth as additional tenants in the future. Long-term contracts have already been signed. The necessary construction work is to begin this year; completion is scheduled for 2022.
The property is located in the pedestrian zone Georgstrasse, a prime location of Lower Saxony’s capital. The retail space extends from the basement to the 4th floor. According to the plans, Rewe and Woolworth will open their stores next year on approx. 800 sqm and 850 sqm respectively in the basement. On the ground floor, a partial area of around 600 sqm will be partitioned off for the new dm shop. The remaining sales area will continue to be operated by C&A.
Rowan Verwoerd, Portfolio Director of Redevco Germany, says: “As we have already been driving new and follow-up lettings for several years to optimise the tenant mix through active portfolio management, we are delighted about the three new tenants. And of course, also about the fact that we will contribute to keeping Hanover’s Georgstrasse attractive through the broad retail spectrum represented in our property in the future.”