P&C Düsseldorf, already based in Essen, will occupy around 6,400 sq m on two floors in the mall and implement its latest store concept there. The plans envisage the conversion work for the space starting in the fourth quarter of 2024, with the P&C store expected to open in spring 2026. Union Investment is jointly investing around 30 million euros in the conversion work via its open-ended Real Estate Investment Trust (REIT) UniImmo: Europa and ECE / the Otto family as owners.
“We are delighted to have found our preferred candidate for the new start at Limbecker Platz in P&C Düsseldorf,” says Norman Naehrig from Union Investment. “We expect the successful new letting and the profitable investment in the further development of the center for our investors to send a strong signal for the site and attract further exciting store concepts.”
“The city of Essen is an important site for the Peek & Cloppenburg Düsseldorf Group. The move to the Limbecker Platz shopping center as a fashion-oriented brand environment serves the strategic realignment of P&C Düsseldorf, with which we are responding to changing customer behavior,” says Thomas Freude, Managing Director of Peek & Cloppenburg B.V. & Co. KG, Düsseldorf. “The new Sales area will be reduced to two levels. This is in response to our customers’ desire for a better overview and a clear layout to make it easier for them to get an overview of the entire range. In addition, the positive situation around Limbecker Platz and the good public transport connections clearly favored the decision to relocate.”
“The fact that we have succeeded in attracting such a well-known and attractive new tenant to Limbecker Platz speaks for the center’s height of attractiveness and underlines its very good performance. At the same time, this success is the result of our joint strategic planning with Union Investment, with whom we developed concepts for re-letting the vacant space at an early stage,” says Steffen Eric Friedlein, Managing Director Leasing at ECE Marketplaces.
Promising talks are already taking place with prospective tenants from various types of industry for the other space previously occupied by Galeria in Limbecker Platz. The total area of around 19,000 sq m is to be divided into five to six sub-areas and leased to several concepts.
Most recently, Limbecker Platz has already profited from numerous other attractive concepts as tenants, including the Inditex concepts Bershka, Pull&Bear and Zara. The first MINISO store in the German market also opened recently, with further openings planned until the end of 2024. Sales and footfall are also continuing to develop positively and are consistently above the pre-corona level.
