Billstedt-Center, Hamburg

At the beginning of 2011 we acquired the Billstedt-Center in Hamburg. The investment volume for this centre is in the region of €160 million. It is the company's second shopping centre in the city and the eighteenth in our portfolio overall.

The Billstedt-Center is a long-established centre that was originally opened in two parts in 1969 and 1977 before undergoing fundamental restructuring in 1996. It is located to the east of the city, approximately eight kilometres from the centre. Roughly 735,000 people live in the catchment area, and every day up to 40,000 customers visit the centre, which is ideally situated between the local bus station, an underground train station and the market square.

Built on two levels with a retail space of around 40,000 m2, it houses some 110 specialist shops, all of which are let to well-known retailers. The centre’s magnet tenants are a hypermarket (REWE Group), a consumer electronics store (Media Markt) and three fashion stores (C&A, TK Maxx and H&M). A Karstadt department store, which is owned by third parties, is also part of the centre. In addition, the centre boasts around 3,500 m2 of residential and office space as well as over 1,500 parking spaces.

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