The well-known hybrid retail centre Havelpark Dallgow in the Brandenburg municipality of Dallgow-Döberitz has changed hands. A consortium comprising funds managed by Strategic Value Partners and partner 4 Friends Investment (4FI) has acquired the large-scale retail property just outside Berlin's western gates. The established shopping centre was sold by pan-European private real estate manager Redevco.
Hines acted as investment manager for the vendor side during the sale process, whilst Redevco itself handled asset and transaction management. Brokerage and advisory firm JLL brokered the transaction and advised the vendor. The process was supported on the legal side by law firm Reius, whilst Drees & Sommer provided technical consultancy to the transaction partners.
Structural data and occupancy of the retail complex
Opened in 1995, Havelpark Dallgow has a total gross lettable area of around 55,000 square metres. The scheme accommodates around 100 specialist shops, retail units and retail warehouses offering a broad range of goods. The property currently has an occupancy rate of approximately 92 per cent, underlining the continued appeal of the retail space to well-known chain stores.
- —Food and local grocery anchor Kaufland
- —Consumer electronics retailer Medimax
- —Garden centre and plant specialist Pflanzen Kölle
- —Off-price retailer TK Maxx
Between 2016 and 2019, the property underwent an extensive refurbishment programme. Over the course of these multi-year works, the centre was structurally refreshed, modernised and adapted to changing market and customer requirements. This reconfiguration sustainably strengthened the hybrid centre's position within regional competition.
Strong footfall in the Berlin commuter belt
Owing to its convenient transport links on the western periphery of the federal capital, the site enjoys an extensive catchment area spanning Brandenburg and the neighbouring districts of Berlin. The centre's regional prominence is reflected in robust footfall, with Havelpark Dallgow recording around four million visitors every year.
