The Retail Park acquired by MIMCO Capital on behalf of its "Everest One" fund, located in the heart of Lippstadt, will host the German retailer Woolworth from June 1, 2021.
For almost 100 years, the German company has revolutionized the retail industry with a wide range of products for everyday needs: home textiles, household items, fashion for women, men and children, home decoration and pharmacy products, stationery, and haberdashery. In full growth, Woolworth currently operates over 400 shops in Germany, with the aim of increasing the branch density to 800 stores throughout Germany.
A five-year firm term has been signed with the German retail chain for a surface area of 734,56 sqm.
"This space leasing will undoubtedly contribute to this asset valuation potential. Its restructuring will have required an investment, and the arrival of Woolworth's will increase the site attractiveness," says Bernd von Manteuffel, co-founder and CEO of MIMCO Capital.
"We are proud to host this brand. It is committed to saving energy for the environmental cause, which is perfectly in line with our ESG policy,” adds Christophe Nadal, co-founder and CEO of MIMCO Capital.
Located in North Rhine-Westphalia, close to Dortmund and Münster, the retail complex is very attractive, and the total surface area represents 13.388 sqm of floor space and is composed of a cinema part managed by the Canadian group "Cineplex" on the one hand and a retail park part with several well-known brands such as Deichmann, KIK, Tedi or Takko on the other hand. The center also benefits from a large public car park managed by APCOA, the N°1 car park operator in Europe.