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Nova Ambiente assists Space Plus with the acquisition of a department store in Cologne.

As part of its active and innovative investment strategy, Space Plus has acquired a former Galeria Karstadt Kaufhof department store in Cologne-Weiden.

The vacant department store was built in 1972 and has a lettable area of 9,300 square metres. The property is located in the immediate vicinity of the established Rhein-Center Köln-Weiden and is structurally and functionally connected to the Centre. The property and the Rhein-Center Köln-Weiden have excellent connections to the road and public transport network of Cologne and the surrounding area, and visitors have access to more than 160 shops and around 1,500 parking spaces across 40,000 square metres of retail space. Anchor tenants include Apple, H&M, Rewe, dm, Intersport Voswinkel, Saturn, Zara, Peek & Cloppenburg and TK Maxx.

Space Plus intends to redevelop the former department store by the end of 2024.

Space Plus was advised on environmental aspects by Ambiente Deutschland GmbH.

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