Project developer and investor Values Real Estate has transformed the former Wöhrl department stores' in Dresden into a mixed-use property.
Around 10,000 m2 of gross floor space was transformed after two years of construction.
The anchor tenant of the property at Prager Strasse 8/8a is Premier Inn, which has thus opened its 50th hotel in Germany.
The Premier Inn Dresden City Prager Straße offers 200 double rooms on the four upper floors.
While the ground floor and the three basement floors of the original building remained, Values constructed the five upper floors anew.
Dr. Thorsten Bischoff, managing partner at Values Real Estate, said: ‘The transformation of monostructured buildings into lively mixed-use and revitalised properties is a central challenge of our city centres that we face as project developers. We are very proud that with Premier Inn we were able to attract one of the top brands on the German hotel market for our mixed-use concept, which we complement with first-class retail and gastronomy at this location. Premier Inn fits this location and Elbflorenz. We are looking forward to our joint journey.’
In addition to existing tenants such as the cosmetics retailer Lush, Douglas opened its new flagship store on the ground floor in January.
A telecoms shop will be added towards the end of 2023, while gastronomic offerings will round off the tenant mix.
The building is part of the two-part ensemble Prager Str. 8 and 8a, which belonged to the institutional fund BVK-Values-Immobilienfonds-CBD before being acquired by Values in 2017.
It comprises around 15,000 m2 and an underground car park with 155 parking spaces.
