New letting to fashion house SiNN in the Louisen-Center in Bad Homburg v. d. Höhe
- Brand fashion house SiNN is a new anchor tenant in the Louisen-Center in Bad Homburg on approx. 3,900 sqm
- Transformation of the Louisen-Center into a multi-store department shop with an attractive mix of products and brands
- New opening of the centre under a new name planned for spring 2021
Cologne/Frankfurt am Main/Bad Homburg v. d. Höhe, 10 September 2020 – VERIANOS SE, the listed real estate company focusing on value investments in the European small and mid-cap real estate segment, announces the closing of a long-term lease agreement with SiNN GmbH.
A long-term lease agreement has been signed with SiNN GmbH, one of Germany’s most traditional fashion companies, for the Louisen-Center located in Bad Homburg v. d. Höhe. Following the conversion work currently in preparation, a new, brand-oriented and high-quality fashion store will be built on an area of around 3,900 sqm, which is scheduled to open in spring 2021. SiNN will thus become the second renowned anchor tenant alongside Saturn. This represents the starting point for a brand-focused realignment of the asset in order to better meet the customer needs of the modern retail industry.
The long-established company SiNN, based in Hagen, operates 23 clothing stores in Germany under the name “das macht SiNN” and stands for exclusive brand variety and excellent advice for the whole family. With more than 500 brands and 1,500 employees, the company looks back on a history of more than 115 years and offers its approximately 2 million customers annually a shopping experience with excellent professional competence and a love for fashion and clothing in which people are the focus of attention. The closing of the long-term rental agreement demonstrates SiNN’s clear commitment to the Bad Homburg location.
“Bad Homburg as one of the most economically successful cities in Germany is a stroke of luck for us,” says SiNN GmbH’s Head of Purchasing Susanne Straus. “We will present the customers of ‘das macht SiNN’ with a range of products that meet the standards and importance of Bad Homburg. Current ladies’ and men’s fashion and lingerie with a focus on 100% brands of national and international significance, coupled with the high level of advisory skills of the ‘das macht SiNN’ employees, form the basis for the desired attractiveness of the new clothing store.
Alexander Hetjes, Mayor of Bad Homburg v. d. Höhe: “This is very positive news for Bad Homburg. The opening of a SiNN store is a clear commitment to Bad Homburg as a shopping city and shows that we are on the right track with the city centre. This additional offer will bring new customers to the city centre. The already very constructive cooperation between the city administration and VERIANOS will continue. We will closely accompany and support the conversion measures wherever possible. I look forward to the opening of the new textile department shop in spring 2021 – and wish the company success and the necessary fortune in the upcoming conversion work”.
Alejandro Valero, Head of Asset Management at VERIANOS SE: “We are very pleased to have won a second strong anchor tenant for our property with SiNN, alongside the Mediamarkt-Saturn Group. This underlines both the increasing attractiveness of Bad Homburg as a location and the appeal of Louisenstraße as a highly frequented shopping street. Following extensive conversion work, we are planning to open the new store in spring 2021 with a much more open and transparent design”.
VERIANOS is a listed real estate company (ISIN DE000A0Z2Y48) with headquarters in Cologne and offices in Frankfurt, Madrid, Milan and Valencia. The company sees itself as a real estate partner for family offices, high net worth individuals, institutional investors, fund initiators and financial institutions, connecting the real estate and capital markets. With its Investment and Advisory divisions VERIANOS realises customised investment products and sophisticated consulting and financing mandates for its clients. Services offered range from the development and structuring of investment products to the active management of the underlying assets. The focus lies on value investments in small & mid-cap properties as well as repositioning and restructuring concepts.
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