Today Deutsche EuroShop AG and ECE will lay the foundation stone of Shoppingcenter ‘Forum Wetzlar’. Deutsche EuroShop AG takes an interest of 65 % in the Forum Wetzlar, which is to be opened in spring 2005. Investment partner is the ECE-Group, which is also responsible for general planning, letting and center management. The investment volume of both partners amounts to € 130 million.
The shoppingcenter is under construction since June 2003 and will house approximately 110 shops on two levels with a total sales area of approx. 23,000 sqm. There will be an industry mix featuring attractive speciality markets, chain outlets and local retailers. There will be approx. 1,700 parking spaces available for customers.
Over 50 % of the store spaces are already let long term to renowned retailers. A hypermarket and a consumer electronics retailer have already signed as anchor tenants. “As many chain outlets and local retailers showed interest we assume that the center will be completely let until the opening“, Dirk Hasselbring, member of the board of Deutsche EuroShop AG, expects.
The Forum Wetzlar is located in Wetzlar, a city in the middle of Hesse, in immediate vicinity to the important connection between Giessen and Limburg, the four-lane main B 49 road. The object features an excellent location and a very good infrastructure. The centre is located on the former site of the freight station and connects the pedestrian precinct with the bus- and railway-station. The catchment area of the Forum Wetzlar has approximately 530,000 inhabitants.
With this investment Deutsche EuroShop AG expands its portfolio to 13 shoppingcenters with a proportionate investment volume of € 1.15 billion. The liquidity reserves of € 18 million are to be invested completely until the end of 2003.
Facts & Figures of the Forum Wetzlar
Location Wetzlar / Hesse
Investment of DES 65 %
Sales area in sqm 23,000
Number of shops approx. 110
Occupancy rate 52 %
Catchment area 530,000 inhabitants
Planned opening spring 2005
Source: Deutsche EuroShop AG