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Westfield Centro (left), Ruhr Park (right), and Hamburg Überseequartier. /// credit: URW, Oliver Blobel, D. Schäfer, moka studio
Westfield Centro (left), Ruhr Park (right), and Hamburg Überseequartier. /// credit: URW, Oliver Blobel, D. Schäfer, moka studio

Successful Year 2023 For Unibail-Rodamco-Westfield In The German And Austrian Region – The Company’s Leasing Strategy Continues To Work Out To The Full

Unibail-Rodamco-Westfield (URW) currently operates 21 assets in the German and Austrian region: 19 in Germany, eight of which are in the Group’s own portfolio, and two in Austria. Last year, a total of 714 rental contracts were closed for these 21 assets. The average vacancy rate for the core locations in the portfolio around Westfield Centro in Oberhausen, Ruhr Park in Bochum, as well as Westfield Shopping City Süd in Vösendorf in Greater Vienna and Westfield Donau Zentrum in Vienna, is less than two percent.

Furthermore, significant progress has been made at the mixed-use project Westfield Hamburg-Überseequartier, which URW is developing in Hamburg’s HafenCity and will open on April 25. The letting rate for the area of retail, dining and leisure is now over 90%. The leasing strategy established by the company years ago is proving itself, especially in the current market situation.

The highlights of the 2023 leasing activities:

  • Westfield Centro in Oberhausen: Expansion of the Zara store to 6,000 square meters to become the largest flagship store in Germany – opening in 2025 / Opening of adidas as a new addition to the center
  • Spandau Arcaden in Berlin: Opening of the bicycle retailer Radhaus on 3,500 square meters
  • Ruhr Park in Bochum: preparations for the opening of the Questing concept Boda Borg in spring
  • 2024
  • Westfield Shopping City Süd in Vösendorf, Greater Vienna, Austria: Opening of the modernized Cineplexx Westfield SCS as part of the establishment of a new dining and leisure destination, including bowling and mini-golf / openings of Longchamp, JOTT, BYD Europe and Nike
  • Westfield Donau Zentrum in Vienna: opening of the largest Zara flagship store in Austria
  • The retail offering has been strengthened by partnerships with global brands such as Tommy Hilfiger, Calvin Klein, KARL LAGERFELD, Sephora, In@missimi and Calzedonia.
  • Karo Kauer, Dr. Martens, Luis Trenker, VIU, Swarovski, PANDORA, Lakrids by Bülow, DJI, Parfümerie Schuback, PME Legend, New Zealand Auckland, Phase Eight and Hobbs ensure a further differentiation of the brand mix.

“The current market phase is still very dynamic: retailers, F&B operators and providers of leisure concepts are making their location and expansion decisions in a highly selective manner, says Andreas Hohlmann, Managing Director Austria & Germany at Unibail-Rodamco-Westfield. “At URW, we offer a portfolio with the most attractive assets, consistently focusing on flagship stores of the most sought-after brands and the major trends in the industry and society. Thanks to the strategy we established years ago, we provide exactly the retail environments, destinations and quarters in which our partners want to be represented with their stores. The more than 700 leases and partnerships that we have concluded in the German and Austrian region in 2023 are an impressive example of this strategy’s success. This underlines once again that we are the premium partner for all future-oriented brands and companies in our sector.”

Westfield Hamburg-Überseequartier:

Several key partners have been brought on board for the urban regeneration project Westfield
Hamburg-Überseequartier in 2023 and the letting rate for the retail, gastronomy and leisure sectors,
i.e. all entertainment and cultural offerings, is now over 90 percent.

The retail, dining and leisure sectors (including a cluster for medical services and doctor’s offices) will
comprise a total of around 170 concepts. A particular characteristic of URW’s leasing strategy is the
establishment of a brand and product mix that includes famous global brands and national players, as
well as more individual concepts and local champions. A primary goal is to bring concepts to Hamburg
that are not yet represented in the city center, the entire city area, or even in northern Germany. Rental
partners who are not yet represented in Hamburg’s city center have been brought on board for around
two thirds of the space let to date.

“At Westfield Hamburg-Überseequartier, we are implementing exactly the plans that have been announced and communicated in the areas of project development and leasing,” adds Andreas Hohlmann. “The store fitting is progressing rapidly throughout the quarter, and we are on the home stretch. We are delighted that our perseverance and commitment will culminate in the opening. Together with all our partners, we are very much looking forward to the grand inauguration of this new piece of Hamburg on April 25, 2024.”


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