Bauwert celebrates topping-out ceremony for Peek & Cloppenburg apparel store in Kassel (DE)

With Lord Mayor Bertram Hilgen and many guests in attendance, Bauwert Investment Group celebrated the topping-out ceremony for the new Peek & Cloppenburg apparel store in the heart of historic downtown Kassel. Bauwert Investment Group is in the process of raising a four-story building with 7,300 m² of retail space on a 1,600 m² property, which is to be completed by the end of 2011.


The construction process has an investment volume of €29 million.

"Today's topping-out ceremony marks the key phase of the P&C apparel store realisation. The weeks to come will not only see the creation of a modern retail property but also the restoration of the historic Henschelhaus building in its original appearance and its integration into the overall project," said Dr. Jürgen Leibfried, Partner of Bauwert Investment Group.

Developed by the architectural firms of Roller Architekten in Kassel and Kleffel, Papay und Warncke in Hamburg (commissioned by P&C to advise on the facade design), the building concept ensures a sound integration of the project into the cityscape while also satisfying the use requirements of tenant and future customers. "This project shows just how valuable the combination of things old and new can be. More than that: The apparel store creates new jobs and will not only draw local residents to the town centre, but attract visitors, too," said Bertram Hilgen, Lord Mayor of the City of Kassel.

The Hamburg-based Peek & Cloppenburg KG corporate group is one of Germany's leading fashion companies. As a brand specialist stocking anything from high-end basics, to designer collections, and all the way to young trend labels, the Kassel branch of P&C will soon provide quality, diversity and fashion expertise as a one-stop shop for the entire family.

"The combination of sought locations, ambitious architecture and high-end features defines our apparel stores. The Kassel branch more than satisfies this claim," said a thrilled Frederik Kramer, Head of Real Estate of the Peek & Cloppenburg KG in Hamburg.

The construction process, which has an investment volume of €29 million, is going according to plan and is right on schedule. The apparel store will open for business in spring 2012. Following its completion, the property will change hands: As early as January 2010, HIH Hamburgische Immobilien Handlung GmbH acquired it for an investment fund belonging to the Warburg-Henderson investment company.

Source: Business Network Marketing- und Verlagsgesellschaft

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