Sierra Germany records positive letting results in the first half of 2024. A total of 32 new leases were concluded and 36 existing leases were extended for a total area of 19,000 square metres. The six shopping centres managed by Sierra in Germany thus achieved an average of more than ten leases each for 3,166 square metres. One particular highlight is the fully let Mercado shopping centre in Hamburg, which is a rarity on the German market.
The new tenants in the centres managed by Sierra in Germany include well-known brands such as Stradivarius, Skechers, Paper&Tea, Lindt, Hugo Boss, Lacoste and Action. In addition, the long-standing cooperation with the Spanish Inditex Group (Pull&Bear, Bershka, Stradivarius) and the Bestseller Group (Only, Only&Sons, Jack&Jones, Vero Moda) was further expanded. The tenants who have extended their leases, thus confirming their commitment to the centres managed by Sierra, include such attractive brands as Thalia, Manufactum, H&M, Deichmann and Kiko.
Sierra is continuing its remarkable letting successes in Germany in view of the challenging market situation. At the same time, the company is observing an increasing demand for professional letting strategies and solutions. In response to this new demand, Sierra Germany is now offering its letting services separately. Property owners and investors can specifically commission Sierra’s letting expertise without having to commit to a comprehensive management mandate. In addition to pure letting, owners of retail properties can also receive analyses and new concepts for their properties.
Dirk von der Ahé, head of the Sierra letting department, emphasises: “Our centres are excellently positioned and our tenants feel very well looked after. In the current difficult market situation, it is crucial to know which retailers with which requirements are looking for growth opportunities in which locations. We bring this expertise to the table.”
“Close contact, dialogue and trusting partnerships between tenants and landlords are of great importance. Our team is characterised by its ability to find individual solutions that meet the needs of both tenants and landlords,” says Christine Hager, Sonae Sierra Director of Property Management in Germany.
Sierra manages shopping centres in Germany on behalf of Union Investment, Aachener Grundvermögen and Hanse Merkur. In Germany, these include the Alexa (Berlin), the Mercado Altona, the Quarree Wandsbek and the Ottensen shopping centre (all in Hamburg), the Münster Arkaden, the Mercaden Böblingen and the Europa-Galerie Saarbrücken.
