Corporate News
Deutsche EuroShop purchases shopping center in Gdansk
Deutsche EuroShop AG / Miscellaneous
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The issuer is solely responsible for the content of this announcement.
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Deutsche EuroShop purchases shopping center in Gdansk
Hamburg, 10 August 2006 – Deutsche EuroShop has acquired a 74% interest in
the Galeria Bałtycka in Gdansk, Poland. The proportional investment
volume amounts to around EUR 123 million, with an initial yield of 6.8%. As
a result, Deutsche EuroShop’s portfolio now consists of 16 shopping centers
with a market value of over EUR 2.3 billion. Along with the Galeria
Bałtycka the ratio of foreign investments of the Group increases to
18%.
Deutsche EuroShop purchased the interest from HGA Capital Grundbesitz und
Anlage GmbH, a company belonging to the HSH Nordbank Group. The ECE Group,
which is also responsible for planning, development, leasing and center
management, is its partner in the investment.
The Galeria Bałtycka has been under construction since the beginning
of May 2006 and is scheduled to open in autumn 2007. The shopping center
will offer approx. 190 specialized shops on three levels. Over 80% of the
space has already been leased to well-known retailers over a year before
the grand opening. A supermarket, a specialist consumer electronics
retailer and a fashion house are the center’s anchor tenants. There will be
over 1,000 parking spaces available to customers in the shopping center’s
parking deck.
The Galeria Bałtycka is being built directly at a central transport
interchange in the Gdansk-Gdynia-Sopot conurbation (called the Tricity) in
Gdansk, the former Hanseatic League city with 460,000 inhabitants. The
center will be easily accessible by public transportation, as well as by
car. Approximately 1.2 million people live in the center’s catchment area;
their retail purchasing power is around 20% above the Polish average.
Deutsche EuroShop – The Shopping Center Company
Deutsche EuroShop is Germany’s only public company, that invests solely in
shopping centers in prime locations. The MDAX-listed Company currently has
equity interests in 16 European shopping centers in Germany, Austria,
Hungary, Italy and Poland.
Facts & Figures of the Galeria Bałtycka
Location Gdansk
Investment of DES 74.0%
Lettable space in sqm approx. 47,100
Parking approx. 1,000
Number of shops approx. 190
Occupancy rate >80%
Catchment area 1.2 million inhabitants
Planned opening Autumn 2007
Webcast with details
Deutsche EuroShop will webcast its English conference call on the occasion
of the publication of the interim report H1 2006 on Friday, 11 August 2006,
at 10:00 a.m. CET live on the Internet. The webcast will contain further
details concerning the acquisition in Gdansk and can be accessed at the
Company's website at http://www.deutsche-euroshop.com/ir
DGAP 10.08.2006
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Language: English
Issuer: Deutsche EuroShop AG
Oderfelder Straße 23
20149 Hamburg Deutschland
Phone: +49 (0)40 413 579-0
Fax: +49 (0)40 413 579-29
E-mail: kiss@deutsche-euroshop.de
WWW: www.deutsche-euroshop.de
ISIN: DE0007480204
WKN: 748020
Indices:
Listed: Amtlicher Markt in Frankfurt (Prime Standard); Freiverkehr in
Berlin-Bremen, Hannover, München, Hamburg, Düsseldorf,
Stuttgart
End of News DGAP News-Service
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