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“New chapter in Karstadt’s history” First new Karstadt department store in over 30 years

At the redeveloped Tegel Center in Berlin, Karstadt will open a new department store by 2018 at the latest. A long-term lease for this future branch was concluded with HGHI Holding GmbH. The new branch will be situated in a prime location that is very popular with customers and well connected to U-Bahn and S-Bahn lines.

Karstadt CEO Dr Stephan Fanderl explains: “The opening of a new branch is fantastic news. With our new Tegel branch, we will set the standard for a completely new shopping experience. We have reached a turning point on our way towards Karstadt’s long-term recovery and aspire to break even in the financial year, which is soon coming to an end. Of course, we will also continue to have a conservative approach and keep an eye on costs. But we are also starting, for the first time in Karstadt’s longstanding history, to actively work our way forward. I am confident that there is growth potential in every single division – from our existing branches to our service centre in Essen to e-commerce with karstadt.de. But with the complete opening of a new department store – the first in over 30 years – we are now beginning a new chapter in Karstadt’s history and the history of retail in Germany. Locality is one of Karstadt’s most important strengths. We will also use this strength in Tegel with a strong focus on our local customer base and by precisely adjusting our offer to other suppliers at this property.“

“We are very pleased to have found a tenant with such a rich tradition for the Tegel Center with Karstadt. We will also create more commercial space here and provide an extensive shopping offer with excellent transport links,” said Harald G. Huth, HGHI Holding GmbH.

The new department store in the Gorkistrasse pedestrian zone covers 8,800 m² of sales space on four storeys and is designed as a local marketplace. The property is expected to be finished by 2018 at the latest and will then be handed over to Karstadt Warenhaus GmbH as the tenant. The new branch will open approximately two months later. The Tegel Center and the 350-metre pedestrian zone on Gorkistrasse will be modernised to a large extent by HGHI Holding GmbH to offer this district an attractive shopping experience. Over 100 shops will be built here on approximately 50,000 m² of sales space. With its immediate proximity to U-Bahn and S-Bahn stations, this location also has excellent local public transport connections.



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