LANDSTRASSE GALLERIA TO REOPEN AS SOON AS 2010
Modern local shopping centre for Vienna’s 3rd district
- Comprehensive technical and architectural modernisation under way
- Retail space in high demand and almost entirely let
- Clear trend towards inner-city shopping is advantage of the location
- Business operation maintained despite renovation work
Comprehensive renovation work has been under way in Vienna’s Galleria shopping mall on the Landstrasse Hauptstrasse since the middle of 2009. The new escalator and lift system, completed at the end of November 2009, and the individual sales floors with direct connection to the car park already hint at the new, modern, overall impression of the Centre. Phase Two will now involve modernisation of the general areas of the mall, some of the rental space and the façade. Tenants have responded positively to the changes in the Galleria; 85% of the 15,500 sqm rentable area in the Centre has already been let to more than 30 specialist shops. All the renovation work should be completed in time for Christmas trading in 2010.
Trend towards inner-city living and shopping
“Just as the Viennese are increasingly wanting to live in the city centre once more, they also want to shop in the centre of town”, says Philipp Beck of the brokerage company, Dr. Röll und Beck Immobilienmakler OG. “The Galleria combines the advantages of local shopping in the centrally situated shopping street of Landstrasse Hauptstrasse, which has good transport connections, with those of a shopping mall, including an hour’s free parking.” The Galleria’s tenants are also counting on these advantages of location and some of them are using the renovation to expand. Christian Klemenschitz, of the sales division at Müller Österreich, explains: “We have decided to expand our space in the Galleria from 800 sqm to about 2,500 sqm in total and to add a toy and stationery department to our existing chemist and perfumery range. The location has already proved its value to us in the past and the current revitalisation can only create additional potential.” Well-known tenants, such as Müller, C&A, Intersport, DM, Spar, Mastnak and the shoe chain, Reno, have already signed up in the Galleria and concrete negotiations are ongoing for the remaining space. Dr. Bruno Ettenauer, CEO of the owners, CA Immo, says: “The aim is to create a modern, state-of-the-art, inner city shopping centre with a well-balanced mix of sectors from the textiles, hospitality, chemist, electrical and book trade fields.”
Business operation maintained despite renovation work
In the same way as for the first renovation phase, the building work in 2010 will also be undertaken without interruption of business operations. It is planned to open the totally renovated Galleria in time for Christmas trading in 2010. The revitalisation plans were drawn up by the architectural office A&GP International/Architekt Brunner ZT Ges.m.b.H. The aim is that in the future the Galleria will also be used more as an event location: a spacious event area is being created in the basement, for lifestyle and beauty events among others. Cooperation with local schools and the district authorities continues to be fostered.
About CA Immo
CA Immo was founded in 1987 and is today one of the leading property investment companies in Austria. It develops and invests in commercial property (offices, business hotels, shopping malls, logistics parks and warehouse areas) in Austria, Germany and also, via the subsidiary CA Immo International, in eastern Europe. CA Immo is traded on the Vienna Stock Exchange and currently has free float of approximately 90%.
For further information, please contact:
CA Immobilien Anlagen AG
Tel.: +43 1532 5907 533
Wednesday, 10. February 2010 09:59