Portuguese retail specialist Sonae Sierra has confimed that it is in negotiations with German project manager HLG to buy an interest in the Hofgarten shopping centre project in Solingen, Germany. A Sonae Sierra spokesperson told PropertyEU that 'the negotiations have been very positive until now' but added that a final agreement has not yet been signed.
Portuguese retail specialist Sonae Sierra has confimed that it is in negotiations with German project manager HLG to buy an interest in the Hofgarten shopping centre project in Solingen, Germany. A Sonae Sierra spokesperson told PropertyEU that 'the negotiations have been very positive until now' but added that a final agreement has not yet been signed.
HLG invested over EUR 13 mln in 2009 to acquire the land for development of the centre. The three-storey complex, which will require an investment of around EUR 100 mln, is due for completion in spring 2012. It will include around 70 shops over 25,000 m2 of leasable retail space and 564 parking spaces.
The courtyard will offer three levels of trade around 70 shops and 25,000 square meters of rental space.
Also in Germany, Perseus Immobilien Verwaltungs has commissioned Berliner Immobilien Holding (BIH) to sell the Mutschler Center located in Neu-Ulm, Bavaria. The 66,000 m2 complex was put on the market as a result of increasing vacancy rates. The bidding period runs until the end of June.
