Last summer, NPV A/S acquired a building of approximately 45,000 square metres in the heart of Altstadt in Kiel. The property has a significant vacancy rate and is facing a comprehensive redevelopment of the concept.
The development is going according to plan, and long-term leases have just been signed with supermarket chains REWE and DM, who are scheduled to move into the premises before the end of the year.
Kim Lautrup, Director & Partner at NPV states: “We are proud that we have turned around the development of the property in a short time, and we expect to bring more positive news during 2024, both for the property but also for Kiel city centre, where we are working on an exciting project together with the municipality. We hope and believe that our approach to property development will turn the downward trend in major German city centres into something positive.”