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Dresden’s Altmarkt-Galerie shopping center to be expanded
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Investor group acquires intecta building from the PATRIZIA Group
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Design with 90 small shops spread out over 18,000 m² – investment of €150 million
Dresden’s Altmarkt-Galerie is set to be expanded by 18,000 m² to Postplatz and Wilsdruffer Strasse by autumn 2010. This will finally connect the historical old town centre and the Prager Strasse shopping mile. ECE has now acquired the listed intecta building for the expansion on behalf of the investor group comprising Deutsche EuroShop, TLG-Immobilien and the ECE Group from the Augsburg-based PATRIZIA Group. The building is located on the corner of Altmarkt/Wilsdruffer Strasse and is due to be fully renovated. Prior to this, ECE had secured the old Linde building, which will be torn down for the expansion and replaced by a new modern building. This will substantially boost the status of Wilsdruffer Strasse. The top floors will house offices and a hotel over a total of 5,500 m².
Small retailers in particular are due to settle into this 1a location, which offers rare potential for regional businesses and owner-run shops. There will be around 90 new shops overall – which means that each store is no more than 200 m² on average. Only three shops are currently larger than 1,000 m².
“The expansion enables all city centre retailers to better compete with the ‘open countryside’ and other regions. The Altmarkt-Galerie is a reliable partner for retailers in Dresden, which also underlines our active role in city management and in tourism associations”, commented Center Manager Thorsten Kemp. With its sales space of 26,000 m² in the centre of Dresden, the Altmarkt-Galerie already draws thousands of Dresden’s locals and visitors on a daily basis.
The archaeological excavation is due to start as early as summer 2008. Construction can then begin at the start of 2009, with opening of the expansion planned for autumn 2010. The investors of the existing center – a business venture between Deutsche EuroShop, TLG-Immobilien and the ECE Group – will also finance the expansion of the Altmarkt-Galerie.
