AM NV (Amstelland MDC), which specialises in city centre, shopping centre, housing and office development, has sold Schlössle-Galerie in Pforzheim and Kamp-Promenade in Osnabrück to investor WestInvest. The two multi-functional city centre projects, which are currently under construction, have been sold for a total of ââ¬122 milion.
Schlössle-Galerie
Schlössle-Galerie, which occupies a prime location in the centre of Pforzheim, is a three-storey shopping centre with 17,500 mò of retail space and restaurant facilities, 2,600 mò of office space and parking for 374 cars. One special feature of the shopping centre is its roof garden, which will create an attractive public space. Around 50% of the retail space has already been let. Anchor tenants include Hennes & Mauritz and Deichmann. The parking garage will be operated by Q-Park. Schlössle-Galerie is scheduled to open in the spring of 2005.
Kamp-Promenade
Kamp-Promenade, which comprises four different buildings, is an extension of the pedestrian zone in the centre of Osnabrück. The street plan, which represents a departure from the conventional urban planning approach to shopping centres, also features a new public square. The centre will provide 14,000 mò of shops, 2,500 mò of offices and parking for 245 cars. Three-quarters of the space has already been let. Anchor tenants include Saturn (MediaMarkt) and Esprit. Kamp-Promenade is scheduled to open in September 2004.
Design
The planning concepts for both projects were devised by T&T Design, AMââ¬â¢s in-house design group. The architects for Schlössle-Galerie are T&T Design and RKW Architecten. The architects for Kamp-Promenade are T&T Design and Lindemann & Partner. WestInvest intends to place these shopping centres with its Westinvest Interselect open-ended property fund.
Growth in shopping centres
The Pforzheim and Osnabrück projects are part of AMââ¬â¢s strategy of growth through shopping centre and city centre development on a European scale. With the completion of these two projects, AM will have realised a total of five projects in Germany. AM has multi-functional city centre projects in the pipeline for several other German cities.
Source: Am N.V.