Deutsche EuroShop AG takes an interest of 65 % in the Forum Wetzlar, which is to be opened in spring 2005. The proportionate investment volume amounts to Euro 73 million. From now on the portfolio of Deutsche EuroShop AG consists of 13 shoppingcentres with a proportionate investment volume of Euro 1.15 billion.
The shoppingcentre which is under construction at the moment will house approximately 110 shops on two levels with a total sales area of approx. 23,000 sqm. Over 50 % of the store spaces are already let long term to renowned retailers.
The centre is located on the former site of the freight station directly at the main B 49 road in the city centre of Wetzlar and connects the pedestrian precinct with the bus- and railway-station. The catchment area of the Forum Wetzlar has approximately 530,000 inhabitants. There will be approx. 1,700 parking spaces available for customers. With this investment Deutsche EuroShop AG still has liquidity reserves of Euro 18 million, which are to be invested completely until the end of 2003.
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