Düsseldorf: Zech buys Gerry Weber property for €36mn
Gerry Weber is selling its Düsseldorf showroom “Halle 29” for €36mn to an associated enterprise of the Zech Group. The property is located in the Derendorf district and has over 12,000 sqm of lettable space currently being let to 21 different fashion companies. It opened in 2003 after extensive renovation. BNP Paribas Real Estate advised the seller. The listed fashion retailer says it is selling to concentrate more on its core business. The proceeds from the sale are expected to result in extraordinary income of €18mn for the 2018/19 financial year. Gerry Weber sold the neighboring showroom “Halle 30” for €49.1mn at the end of 2016.
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