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: +49 (0) 40 60 91 86-34, verena.rauch@kirchhoff.de


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Language:    English                                                
Company:     GWB Immobilien AG                                      
             Hauptstraße 1a                                         
             22962 Siek                                             
             Germany                                                
Phone:       +49 4107 9080-0                                        
Fax:         +49 4107 908072                                        
E-mail:      info@gwb-immobilien.de                                 
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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