DM DRUG STORE SIGNS LEASE AT GROSSER BURSTAH
The German drug store chain DM will open a new branch in over 600 m2 of retail space in the Frankonia development at Grosser Burstah in Hamburg. Frankonia Eurobau are building a complex of retail units, restaurants, offices and 24 loft apartments with a total floor space of 20,000 m2 at Grosser Burstah. The company is investing around €100m in the project. The aim of the project is return Grosser Burstah to the commercial status it once had – as a continuation of the shopping district Mönckeberg Strassse in the direction of the exclusive shopping streets Neuer Wall and Grosser Bleichen. Around 50 percent of the retail space has already been rented.
“Here we have a very good city location with a lot of potential. The retail space will attract shoppers to this area once again”, explained Dr. Dorkas Ehrbeck, who is responsible for the leasing of retail and office space at Frankonia. “We are delighted that we were able to find such a large retail space in a prime location in the centre of Hamburg. With our range of goods we will enrich the retail landscape on Grosser Burstah”, said Frank Welle, head of expansion at DM.
At the beginning of the 20th Century Große Burstah was one of the most exclusive shopping streets in Hamburg. “This project will reinstate Grosser Burstah as one of best addresses in the city”, said Uwe Schmitz, chairman of Frankonia Eurobau PLC. Space is still available for up to three more shops and restaurants with terraces opening directly onto the city canal at the back. The available units range from 500 up to 10,000 m2. The space is flexible and can be divided up according to the required dimensions. RSG - Retail Specialists Germany GmbH acted as agents for the deal.
22 January 2014