Europa Capital, on behalf of Europa Fund III, and its Partner, Outlet Centres International, have signed a landmark lease with US fashion house Abercrombie & Fitch at Designer Outlets Wolfsburg (DOW) – in Wolfsburg, Germany.
Abercrombie & Fitch, also known as A&F, is a New York-founded and now Columbus-based retailer that focuses on casual wear for young consumers. A global brand, A&F now has over 300 stores worldwide and has had a presence in Germany since 2011 where A&F currently trades out of three flagship full-price stores located in Dusseldorf, Hamburg and Munich. This new lease at Designer Outlets Wolfsburg represents A&F’s first outlet store in Germany and only its third outlet store in Europe.
The first phase of DOW was completed in 2007, was fully leased at the time of Europa’s investment and has enjoyed strong year on year turnover growth. The second phase, completed in December 2013, increased the trading space to 17,500m², which includes new brands for the centre alongside this landmark lease to A&F including Michael Kors, O’Neill and Clarks. With a permit in place for a further expansion to 21,500m² in a third phase, DOW will be one of the larger outlet centres in Germany.
DOW is already home to a number of leading global brands including Adidas, Diesel, Escada, Gant, Lacoste, Nike, Polo Ralph Lauren, and Tommy Hilfiger.
Stephan Schaefer, Head of Leasing at Outlet Centres International, commented “This new lease with Abercrombie & Fitch is exciting not just for Designer Outlets Wolfsburg but for the German outlet market as a whole, being the retailer’s first outlet in Germany. We have 100% of this second phase either leased or in exclusive lease negotiations and are now opening discussions with interested tenants for phase three of DOW.”
Tom Vail, Europa’s Head of Asset Management for Germany, commented “Wolfsburg as a city has a very strong economy and a community that is very pro-active in encouraging inward investment. The strength of covenant and number of tenants interested in leasing space underlies the location’s strength and pulling-power for this form of retailing.”
Notes to Editors:
Since 1995, Europa Capital’s Principals have collectively raised 7 real estate funds and committed to over 80 transactions totalling some €8.0 billion across 18 European countries.
The Europa Funds benefit from Europa Capital’s established network of partners across Europe who co-invest in acquisitions made by the Europa Funds. These country and joint venture partner relationships in some cases extend back more than 20 years.
Further information can be found at www.europacapital.com Europa Capital is a member of The Rockefeller Group (“RGI”). RGI is a strategic investor alongside Management. Europa Capital Partners LLP and Europa Capital LLP are authorised and regulated by the Financial Conduct Authority.
Gordon Simpson/ Charlotte Whitley/ Claire Scicluna
RLM Finsbury Phone: +44 207 251 3801
