14 Jul 2017
M7 Real Estate extends lease to EDEKA in Bad Gandersheim by eleven years
Frankfurt, 14 July 2017 − M7 Real Estate (M7), the pan-European investor and asset manager that specialises in the regional, multi-let real estate market has agreed an 11 year extension of the existing lease on around 3,800 sq m to EDEKA Minden-Hannover.
The retail property, dating from 2003, is situated at Marienstrasse 25, Bad Gandersheim. Edeka Minden-Hannover has therefore secured this attractive location for the long term and, in association with the independent retailer Dirk Scheuner, is planning to reconfigure the ‘EDEKA Center’ with a more modern design, with work commencing in September 2017.
Under the proposed scheme, the bakery counter will be extended to include a pizza station and an outside seating area. The greengrocer department for meat, sausage and cheese counters will be redesigned and the product range carried by the store will be widened. The ‘EDEKA Center’ will be 100% lit by an energy-saving and environmentally friendly LED system.
The property is part of the M7 European Real Estate Investment Partners I (M7 EREIP I) fund portfolio. EREIP I,which was launched in 2015, is a value-add fund, aimed at wealthy private investors. It currently owns 30 properties, with a total lettable area of around 91,000 sq m.