24 Apr 2018

M7 Real Estate lets 3,200 sq m of retail space in Emsdetten

Frankfurt, 24 April 2018 − M7 Real Estate (M7), the pan-European real estate investor and specialist asset manager, has completed two leases on a previously vacant retail property in Emsdetten, North Rhine-Westphalia. Approximately two thirds of the accommodation is now let.

The property comprises c. 4,950 sq m of retail accomodation at Grevener Damm 212 and was vacant when M7 acquired it for the M7 EREIP I fund, having formerly been a Praktiker DIY centre.

The new tenants are Fishbull, a discount-price DIY operator, and Dänisches Bettenlager a furniture retailer. Both have taken 1,600 sq m of space on long term leases.

In accordance with the local development plan, retailers which are not suited to town centre locations are being sought for the c. 1,750 sq m of space still available.

Alyssa Huse, Managing Director of M7 Germany, commented: “We are very pleased with the letting in Emsdetten. Such successes re-emphasise that a great deal can be achieved with commitment, appropriate expertise and the correct timing. M7’s local market knowledge and our close-knit networking with market players has once again paid off.”