Milan-listed Pirelli Real Estate said that it has completed the redevelopment of the Quarree Wandsbek shopping centre in Hamburg one year after the start of construction in March 2009. The total investment in the project amounted to around EUR 30 mln, according to the Italian property company.
Milan-listed Pirelli Real Estate said that it has completed the redevelopment of the Quarree Wandsbek shopping centre in Hamburg one year after the start of construction in March 2009. The total investment in the project amounted to around EUR 30 mln, according to the Italian property company.
Pirelli RE has redeveloped around 11,000 m2 of retail space to create 7,000 m2 of new leasable area in the scheme. The new space is leased to a number of retailers, including fashion group C&A and Hennes & Mauritz. Construction work was carried out by Bauwens Construction while Pirelli RE is responsible for asset management.
After completion, the centre offers around 32,000 m2 of leasable retail space on a total of 40,000 m2. Quarree Wandsbek has been part of Union Investment's real estate investment fund Unilmmo: Germany portfolio since 2002.
The complex was initially opened in 1988 and first extended in 2000 to add a multiplex cinema.
