GWB Immobilien AG : basis created for issuing the building permit in Völklingen

DGAP-News: GWB Immobilien AG: basis created for issuing the building permit in Völklingen

GWB Immobilien AG / Key word(s): Miscellaneous

12.01.2012 / 08:30

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Hamburg, 12. January 2012. GWB Immobilien AG has reached an important milestone in its City Center Völklingen development project. The stage of planning approval in accordance with § 33 of the German Building Code was reached in the building planning process on 5. January 2012. The town council will be passing a resolution about the land use planning rules today. Construction work will be starting as early as the beginning of April.

The project is scheduled for completion in the fourth quarter of 2013. The investment amounts to about EUR 34 million.

The City Center Völklingen will have a gross floor area of 34,300 sqm and about 12,700 sqm of rental space, some 10,000 sqm of which can be used for sales purposes. The ground floor and first floor will house more than 30 retail outlets. A 1,380 sqm fitness studio is being opened on the second floor.

The City Center Völklingen is focussing on textiles. Such well-known tenants as H&M, Deichmann, Tally Weijl and Apollo Optik have already been found for the property. An occupancy rate of between 60 and 70% is expected by the time construction begins.

'We have reached the finishing straight. Once construction work starts in April, we will be doing everything in our power to make sure that the City Center Völklingen is completed as planned,' says Dr Norbert Herrmann, CEO of GWB Immobilien AG.

About GWB Immobilien AG

GWB is listed in the Prime Standard at Frankfurt Stock Exchange. Over a period of more than 15 years, the GWB corporate group has developed into a specialist for the implementation of large retail projects and for the revitalisation of retail properties. The focus is on medium-sized towns and suburban areas. The strength of the GWB business model is that the company acts as a single, integrated source for the provision of all the necessary services, covering the entire supply chain from project development and construction to marketing and management. More than 40 projects have been completed successfully.

Further information is available on the company website www.GWB-Immobilien.de.

Press inquiries:

Kirchhoff Consult AG, Verena Rauch
Phone: [phone], verena.rauch@kirchhoff.

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Language: English Company: GWB Immobilien AG Hauptstraße 1a 22962 Siek Germany Phone: [phone] Fax: [phone] E-mail: [e-mail] Internet: www.gwb-immobilien.de ISIN: DE000A0JKHG0, DE000A0JRVH4, DE000A0JRVJ0 WKN: A0JKHG Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, Düsseldorf, Hamburg, Stuttgart  

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