Coburg, your empty stands
The market for commercial real estate in coburg's city center is in a state of flux. In recent months, a number of stores have closed, but a number of stores have also reopened. Particularly in the highly sought-after top locations, the applicants seem to be waiting only for the opportunity to move into position in coburg.
Whether this will also be the case after the closure of the C&A store announced for january 2021 remains to be seen. In principle, however, the following applies: the properties in prime locations are, of course, dark-saturated, and the rents are correspondingly high.
This is also the opinion of project manager rolf krebs of the wirtschaftsforderungsgesellschaft der stadt coburg (wifog), which sees itself as a supporter of potential buyers, without of course becoming a real estate agent itself. "As wifog, we support new settlements, but in direct rental negotiations, we have an upper hand. We are not allowed to participate directly, krebs clarifies: "we are purely informative", says krebs.
Beyond the top location
But support is needed above all beyond the prime location. According to krebs, this top location in the city of vestadt only extends from the market square to spitalgasse. "The top location does not need our help", female krebs: "if there is a vacancy there, a new interesting one is there immediately."
The mohrenstrabe and nearby streets and alleys, however, are clearly less in demand, although krebs still sees good conditions in the mohrenstrabe: "the city bus runs, there are stops and many passers-by.
Many changes are on the horizon
Nevertheless, many changes are currently taking place, especially in mohrenstrabe. This is how the rooms of the schoffel-lowa branch will look from 1. April for new leasing. The rooms with 160 square meters of sales area are advertised as a "prestigious property in a highly frequented location". The schrag store opposite, which is also dedicated to sports fashion, is also listed on the wifog site as a rental property.
Advertise for coburg
"Of course we have to observe when schoffel-lowa closes", says krebs – reletting is "no longer a self-runner". In the interest of revitalizing the city center, we have to work even harder behind the scenes than we did years ago. Promote coburg wherever possible – for example, at conferences where expansion managers from large companies are present.
Buying behavior
When traditional businesses in coburg close, people often say: "that's a shame for coburg", says krebs: "i always ask them: when did you last shop there??" For wifog man krebs, the key word is "buying behavior". Those who complain about empty stands should "question their own buying behavior". After all, "everything is accessible" in coburg's city center.
From 40 to 400 square meters
Wifog currently lists nine properties for rent on its homepage – between webergasse and mohrenstrabe. The spectrum ranges from a manageable 40 square meters to 400 square meters of sales or usable space.
For rent
Anyone walking through coburg's old town at the moment keeps coming across this notice: "for rent" – in a sought-after location just before the spitaltor as well as in judengasse, steinweg, webergasse or mohrenstrabe. The former G-fashion store has been vacant for months in a prominent location.
Chain stores dominate
Rolf Krebs sees clearly identifiable categories among the tenants. Coburg is dominated by chain stores in prime locations – from the muller drugstore chain to thalia and rituals. From wifog's point of view, it is therefore important for krebs "to also support the settlement of non-store chains". The most recent example of this is the project for coburg's first unpackaged store in steinweg: "we have been supporting this project from the very beginning."
Positive effect of redevelopment
Krebs sees the example of ketschenvorstadt as confirmation that the redevelopment of city quarters has a positive effect on the settlement of retailers and service providers. Around albertsplatz, "the quality of accommodation has changed significantly". He sees the appeal of the albertsplatz area in a mixed use of doctors, service providers and retail combined with apartments.
Business locations in the city center of coburg
Catchment area the city's economic development agency advertises the city of coburg as a shopping destination. "Coburg is unique. Coburg is a city with a population of around 41,000 – but it appeals to a total catchment area of over 300,000 people", it says on the homepage of wifog. Wifog refers to the "unusually intact historic city center". As a service, wifog offers interested parties a "non-binding list of currently vacant retail stores in the coburg city center". Purchasing power the city of coburg had a purchasing power of around 1062 million euros in 2019, according to a list compiled by the coburg chamber of commerce and industry. This puts coburg at 107.3 percent above the national average. If you then add the district of coburg with a purchasing power of a good 2,100 million euros, the chamber of commerce and industry reports a total of almost 3,164 million euros in purchasing power for its district in 2019. Compared to the previous year, this means an increase in purchasing power of 3.4 percent. Rolf krebs, project manager at the wirtschaftsforderungsgesellschaft coburg (wifog), has registered a consistently high level of rents for the top locations in coburg over the last few years. But here, too, it is worth making a comparison. In coburg, rents per square meter of store space range from 25 to 60 euros, while in the world heritage-listed city of bamberg they are 35 to 75 euros, as the real estate company brockhoff und partner documents in regular comparisons of around 200 cities nationwide.
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