Cloppenburg grabs the Tyrol department store: Mega-Deal after Signa bankruptcy!

Cloppenburg grabs the Tyrol department store: Mega-Deal after Signa bankruptcy!

The Tyrol department store in Innsbruck is sold after the Signa Group's bankruptcy. The buyer is the German entrepreneur Patrick Cloppenburg, known for the fashion chain Peek & Cloppenburg. The purchase price for the renowned shopping center should amount to up to 150 million euros, as VOL.AT reports. The transaction has already been registered with the Federal Competition Authority (BWB), and Horn Grundbesitz GmbH, a subsidiary of JC Luxemburg Holding SCSP, will take the sole control of the department store.

Patrick Cloppenburg, the managing director of Horn Grundbesitz GmbH, has previously withdrawn from his role as chairman of the board of directors of the JC-Switzerland Holding. His new focus is now on real estate investments, whereby the Tyrol department store will play a central role in its strategy. The planned sales price of around 140 million euros reflects the recent devaluation of the department store because significant anchor tenants had withdrawn.

challenges

In the previous year, the department store had decreased, which was due to the emigration of essential rental contracts. In order to counteract the vacancy, significant rental contracts have been renegotiated. These efforts should now also help to increase the attractiveness of the department store for future tenants and buyers, reports Kurier.

The Horn Grundbesitz GmbH, based in Liechtenstein, has received exclusivity for the purchase, whereby a short -term signing and closing is expected until the end of the second quarter of 2025. The legal and economic framework of the real estate market in Austria is observed closely by experts, especially with regard to future development and market forecasts, as in a study to the real estate market in Austria 2024