Acquired in June 2018, the mixed-use property City Colonaden Krefeld is located in a prime location in Krefeld's city centre and has a total of around 23,400 sqm of office, retail and parking space. The main tenants are the textile retailer C&A, the city of Krefeld and the car park operator APCOA Parking GmbH.
Since mid-2018, the City Colonaden have been extensively refurbished and modernised during ongoing operations. The measures included the entire office area with around 3,400 sqm of space, which was prepared for re-letting to the city of Krefeld and handed over completely in 2020. In addition, the multi-storey car park was comprehensively renovated and modernised. In this context, a long-term extension of the lease agreement with APCOA was signed 2019.
Currently, the restructuring of the retail area is in preparation. The signing of a new long-term lease by C&A from October 2023 for a reduced area allows for extensions and conversions of part of the retail space on the 1st floor into attractive office space as well as the division of the ground floor into two independently used rental spaces. The measures are to be completed in the beginning of the year 2024 and will lead to a significant increase in the achievable annual rent.