Advisory firm Lührmann Düsseldorf and Frankfurt am Main has been exclusively appointed by a single family office to manage the sale and letting of the property at Maximilianstraße 43 in Speyer. Hendrik Poggemann and John Groteloh are leading the marketing process together with their team. The marketing is taking place against the background of Galeria's ongoing preliminary insolvency proceedings, leaving the future presence of the department store at the site currently unresolved.
To quickly develop viable future-use options, the processes for disposal and re-letting are being driven forward in parallel. Initial talks with prospective buyers and potential tenants are already underway. With this mandate, Lührmann is further expanding its presence in the segment of former and existing department stores, following its recent successful brokering of other Galeria properties.
Space structure and urban location
Built in the 1950s, the department store building comprises around 6,500 square metres of retail space spread across five floors. The plot covers an area of around 2,480 square metres and is held freehold. The underlying structural framework allows for continued retail use as well as alternative or mixed-use concepts.
- —Around 6,500 square metres of retail space across five storeys
- —Plot area of around 2,480 square metres held freehold
- —Existing building dating from the 1950s
- —Central location on Maximilianstraße between Altpörtel and Kaiserdom
The location on Maximilianstraße is one of Speyer's prime shopping and pedestrian thoroughfares. The property is located in immediate proximity to the historic Altpörtel city gate and not far from the Imperial Cathedral (Kaiserdom). Embedded in the historic old town, the micro-location benefits from stable baseline footfall supported by regional retail, local residents and city tourism.
Alongside investors, the process is targeted at developers and operators seeking to establish new concepts at the location. The review of prospective use options and space requirements is being coordinated across offices by the Lührmann teams in Düsseldorf and Frankfurt am Main.
