- After more than 100 years, Tengelmann is leaving its Wissoll-Straße site
- Austrian family business will continue to develop the historic site with a future-focused approach
Mülheim an der Ruhr, 11.05.2020 – Tengelmann Group today reached an agreement with Austria’s SORAVIA Group to sell its company site on Speldorfer Wissollstraße. After closing, expected in the third quarter, the site will pass to the family-owned real estate company, active in the sector for 140 years. The purchase price was not disclosed. The operating activities of Tengelmann Warenhandelsgesellschaft KG transferred to Tengelmann Twenty-One KG in early January; the site is now gradually being vacated. Subsidiaries based there are also moving to new offices.
An exceptional property in the heart of Europe
“We are delighted to acquire this unique site, with its historic industrial architecture and beautiful parkland, in the heart of the Ruhr region—and thus Europe. We value the Ruhr metropolitan region as an important region of the future. Together with the people of Mülheim, we want to lead this site into that future,” says Erwin Soravia, CEO of SORAVIA.
SORAVIA has demonstrated through several previous projects that it can bring historic buildings to new economic life. The concept is to retain much of the existing development, modernise it and continue developing it. The transaction was brokered by Essen-based Brockhoff & Partner Immobilien GmbH, which is also marketing the existing office space.
History as a unique selling point
“Leaving this traditional site is naturally an emotional step. It has witnessed more than 100 years of company history. In our discussions, we gained the impression that Soravia Group is very aware of this and wants to use the site’s history as a unique selling point,” says Christian W.E. Haub, sole Managing Partner of Tengelmann Group. Tengelmann’s departure from Speldorf is part of a fundamental realignment of the group. Tengelmann Twenty-One KG operates as a lean holding company based in Mülheim, with project offices in Düsseldorf, Greenwich, Ct. (USA) and, in future, Munich.
About SORAVIA
SORAVIA is a growth-oriented, owner-managed family business. For more than 140 years, the Soravia name has stood for continuity in construction and real estate. With more than 600 completed projects and a project volume exceeding EUR 5.7 billion, SORAVIA is one of the leading real estate developers in Austria, Germany and CEE. Its development business is complemented by service companies in facility, property and asset management. SORAVIA has particular expertise in district development and revitalising former industrial properties. In the Ruhr region, it recently completed the Plateno Hotel “7 Days Premium” at Duisburg’s inner harbour. In Germany, it is currently developing several projects, including Zollhafen in Mainz and sites in Hamburg. SORAVIA is also a founding shareholder of hotel group Ruby Hotels, which recently opened a distinctive lean-luxury hotel in Düsseldorf.
Across its investments, SORAVIA employs around 2,300 people.
www.soravia.at
About Tengelmann Group
Tengelmann Group is one of the world’s leading retail companies. Alongside its strategic business areas, its portfolio includes more than 80 start-up investments. In 2018, more than 90,000 employees generated consolidated net sales of EUR 7.8 billion. The group includes textile discounter KiK, OBI home improvement stores and babymarkt.de. It also includes real estate company Trei Real Estate and investment firms Emil Capital Partners in the United States and Tengelmann Ventures in Germany, both of which have invested in start-ups for several years.
www.tengelmann21.com
Contact
SORAVIA
Yana Boyer-Telmer
Head of Group Marketing and Communications
+43-1-71690-1425
y.boyer-telmer@soravia.at
Tengelmann Twenty-One
Matthias Goldbeck
Communications
+49 172 8 42 70 07
mago@tengelmann21.com