DGAP-News: HAMBORNER REIT AG / Key word(s): Real Estate
HAMBORNER REIT AG signs follow-on leases with new anchor tenants for all REAL locations
- Long-term leases signed with new food retailer anchor tenants in Mannheim (Globus), Celle (Kaufland) and Giessen
- Total rental space around 33,000 m² - Weighted average lease term 17.9 years
- Tenant and lessor investment to further enhance property quality and guarantee future viability of store locations
Duisburg, 22 June 2021 - Following abundant successes in its letting business in the first quarter of 2021, HAMBORNER REIT AG has gone on to sign further long-term follow-on leases for space currently used by the food retailer Real at its locations in Mannheim, Celle and Giessen.
In view of the ongoing restructuring of the hypermarket group Real, HAMBORNER was proactively exploring alternative uses for this space and began negotiations with potential new tenants for follow-on leases early on. As a result, a mutually satisfactory cancellation agreement was reached with the existing tenant Real, and leases with new and attractive anchor tenants in the food retail sector were signed at the same time.
At all three locations, it is intended that the necessary remodelling and modernisation work will be carried out in close coordination with the competent authorities to allow smooth handovers.
In the "Kurpfalz-Center" in Mannheim, HAMBORNER's largest retail property, the Globus Group has leased around 15,000 m² for a period of 20 years to set up a state-of-the-art convenience concept in the supermarket sector. Globus will also be using other areas in the property in addition to the space currently leased by Real. The lease is due to start in the second quarter of 2022. "In recent months we have worked with HAMBORNER REIT AG in good faith on a realignment for this retail centre, and we look forward to being able to integrate the Kurpfalz-Center into the Globus family as another established and highly attractive location," said Jochen Baab, Managing Director of Globus SB-Warenhaus.
In future, a substantial part of the space currently being used by Real at HAMBORNER's Celle location will be taken over by Kaufland. The hypermarket chain has signed a long-term lease contract for around 9,600 m².
"By launching operations at this excellently positioned retail centre, we are intensifying a trusting partnership of many years with HAMBORNER REIT AG. We firmly believe that our innovative concept, together with our high customer appeal, will help to further increase the quality of the retail location," predicted Lars Müller, Head of Real Estate Development and Managing Director Real Estate at Kaufland.
In the Giessen property a leading provider in the food retail sector has rented around 8,000 m² for a long-term period as well. The lease is still subject to the pending approval of the antitrust authority, hence the new anchor tenant cannot yet be named at this time. The rental space is due to be handed over in the second half of 2021.
Shortly after taking occupancy, the future tenants will begin comprehensive remodelling and modernisation work with HAMBORNER's support. The planned structural measures include the modernisation of the shop floors and the further enhancement of the visual appearance.
At the Celle and Giessen locations, the work will also include modifying the layouts and the technical facilities to create a basis for integrating additional stores and the further optimisation of the tenant structure. HAMBORNER is already negotiating this with potential tenants and expects to achieve further letting successes shortly.
"The conclusion of these leases is further proof of the expertise and market proximity of our asset management and our sustainable commitment in the area of real estate for neighbourhood shopping," said Niclas Karoff, CEO of HAMBORNER REIT AG.
ABOUT HAMBORNER REIT AG
HAMBORNER REIT AG is a public company listed in the SDAX that operates exclusively in the property sector and is positioned as a portfolio holder for high-yield commercial properties. The company generates sustainable rental income on the basis of a diversified portfolio of properties distributed throughout Germany with a total value of around €1.6 billion. The portfolio focuses on modern office properties at established locations as well as local supply properties as large-scale retail assets, retail parks, DIY stores and attractive high street properties in major German cities and mid-sized centres.
HAMBORNER REIT AG is distinguished by its many years of experience on the property and capital market, its consistent and sustainably attractive dividend strategy and its lean and transparent corporate structure. The company is a registered real estate investment trust (REIT) and benefits from corporation and trade tax exemption at company level.
|Company:||HAMBORNER REIT AG|
|Listed:||Regulated Market in Dusseldorf, Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange|
|EQS News ID:||1210359|
|End of News||DGAP News Service|