BILFINGER REAL ESTATE
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WE MAKE
RETAIL
WORK.
METROPOL ISTANBUL − with a total area of 750,000 square metres, €960 million of construction volume and in the
immediate vicinity of the emerging financial centre of Turkey, another mega project of the city on the Bosporus.
The responsibility for renting 350 stores and 120,000 square metres of retail rental space is in our hands, as is centre
management and property management for the three-story shopping centre. Bilfinger HSG Facility Management is
in charge of managing the facility.
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Bilfinger Real Estate − the commercial
real estate experts
“Sustainably successful commercial real estate takes
strategy, management expertise and an eye for the big
picture, all from the get-go.”
Interest in European commercial real estate investment remains
high. As the retail sector in Germany reports record revenues
thanks to the positive economic climate, new shopping centre and
retail space in small and medium-sized cities grows, and even longterm, security-conscious investors increasingly invest in German
commercial real estate, new construction of shopping centres is
booming in many Eastern and South-Eastern European countries.
Bilfinger Real Estate, with its more than four decades of centre
management experience, ensures successful long-term, profitable
shopping centre investments. Our commercial real estate experts,
on behalf of shopping centre developers, institutional investors and
funds, manage 85 shopping centres with a speciality in malls and
other retail properties in Germany and Europe.
At the same time, commercial properties across Europe face new
challenges. Rapidly changing buying and consumption behavior,
the increasing importance of online commerce, and declining
customer acceptance of many of the shopping centres completed in
the 1990s have made repositioning, revitalization and professional
management critical. After all, only a retail property that adapts to
the times can remain attractive, deliver strong revenue and stay
profitable over the long term.
Core competency shopping centre management
85 shopping centres
specialty shopping centres and retail
properties under management.
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100 locations
in Germany and Europe with centre
management specialists on site.
3 million
square metres of managed retail space.
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With 52 shops and numerous dining options the STADT CENTER DÜREN offers a world of shopping and entertainment for the whole family. Since its opening in the fall of 2005, we have managed the centre, located in the heart of
Düren, and in addition to centre management we lease a total of 16,500 square metres of retail space.
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Retail consulting
“Only a retail property that adapts to the times can
count on sustained customer acceptance.”
Adaptation as a strategy for success
Against the backdrop of changing customer needs and the
increasing demands of new trend-conscious target groups,
commercial properties must be capable of adapting to changing
market conditions to stay successful.
Based on more than four decades of management experience, we
develop location-based, holistic approaches to revitalization, repurposing or increasing the potential of shopping centres and retail
property. Our specialists develop market and site assessments,
analyze the existing tenant and sector mix, the strengths and weaknesses of the property and develop rental and use concepts, based
on sound positioning. We offer strategic advice on changing market
and competitive conditions, structural upgrading needs, or planned
remodels. We revise and develop marketing concepts that enables
the repositioning of the centre in collaboration with advertising
agencies and the advertising community of the centre.
In the development of concepts, we work closely with owners,
tenants and service providers. By getting all of the stakeholders
involved at an early stage, we create a basis for acceptance and
successful implementation of the necessary measures. As part of
our tenant coordination service, we act as an interface between
tenants, owners and planners when it is time to perform a remodel,
create new rental space and move tenants. We prepare rental
spaces ready for occupancy, taking into account the individual
needs of tenants.
Schlössle Galerie Pforzheim: dining area before refurbishment
Numerous shopping centres in Europe have been around for more
than 20 years. In order to adapt to current customer needs and
rapidly changing market conditions while remaining competitive,
Bilfinger Real Estate has developed measures to optimize the
appearance, accessibility and efficiency of spaces and manage
the implementation of the necessary remodeling measures.
This ensures high customer traffic and sales as well as stable
rental income for your retail property.
FOOD COURT SCHLÖSSLE GALERIE PFORZHEIM 2009
FOOD COURT SCHLÖSSLE GALERIE PFORZHEIM 2010
The Schlössle Galerie in Pforzheim is one of the most popular
shopping centres in Baden-Württemberg. In order to make the food
court in the basement of the centre larger and more attractive,
shortly after the takeover of the centre management mandate
we developed a concept for the redesign and expansion of dining
and seating areas. We acted as the owner representative for the
architect and project manager, ensured adherence to the budget
and acquired additional restaurant concepts for the rental space.
After a four-month reconstruction phase, the redesigned food court
opened with a central seating area in the middle of the basement.
The amenity value and visibility of the food court has improved
markedly and its size has more than doubled from 220 to 465
square metres.
Through the redesign of the food court and other energy-saving
measures, we also managed to reduce the non-recoverable
ancillary cost component by some 40 percent.
Schlössle Galerie Pforzheim: modern food court after refurbishment
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RETAIL CONSULTING | Bilfinger Real Estate
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Property management
The numbers at a glance
Our experienced property managers are reliable partners for all
of your retail property tenants. Starting with property accounting, insurance and contract management, billing of operating and
ancillary costs, taking into account tenant-specific distribution lists,
they handle all of the commercial property management functions.
We respond flexibly to individual software solutions and system
requirements and, in addition to ensuring timely rent collection, we
provide transparent invoicing and payment-reminder services, as
well as indexing lease agreements and settling sales-based rents.
Our detailed reporting provides an overview of the economic development of the centre, including earnings development, ancillary
costs and overdue and rent payments.
Technical property management ensures ongoing maintenance and
upgrading of properties. This includes all required maintenance
and remodeling measures, as well as coordination of cleaning,
janitorial and disposal services. The regular budget planning
and monitoring through property management is the basis of an
economic result of the retail property and provides our customers
with planning security.
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PROPERTY MANAGEMENT | Bilfinger Real Estate
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The CITY GALERIE ASCHAFFENBURG is Northern Bavaria's largest shopping centre and has been managed since
1978 by Bilfinger Real Estate. In addition to responsibility for centre management and property management for the
approximately 53,000 square metres centre, we handle leasing activities and provide energy efficiency consulting
services. Over the past 30 years we have successfully managed every sale of the City Galerie Aschaffenburg and
once the transactions were completed, we never failed to impress the owners with our strengths in management
and leasing.
Retail leasing
“As part of our management mandate, we have
successfully concluded lease agreements with nearly
every well-known retail company, chain store and
regional retailer.”
Trends, tenant mix and a feel for the market
A balanced tenant mix is ​​critical to the long-term success of a
shopping centre. To meet the demands of new trend-conscious
target groups and changing market and site conditions, the experienced leasing managers at Bilfinger Real Estate develop leasing
concepts individually tailored to each property. By composing
a balanced, attractive sector mix, we build the foundation for a
modern shopping centre with a robust visitor traffic.
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Our participation in the expansion activities of national and international retail brands and our decades-long contact with many major
retailers offer a clear advantage for attracting top brands and creditworthy tenants. Our comprehensive Europe-wide activities gives
us strong networks and detailed knowledge of numerous regional
and local real estate markets throughout Europe.
We offer a comprehensive rental management system tailored to your needs. The determination of fair market rental terms is part of our overall service. Contract negotiations and
the conclusion of lease agreements are among our core functions. Bilfinger Real Estate’s
lease management offers you, as the customer, a reliable partner for every rental issue and
the certainty that current and potential tenants are optimally served.
RETAIL LEASING| Bilfinger Real Estate
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Retail revitalization
Revitalization concepts for highly profitable
commercial real estate
City Galerie Aschaffenburg: shopping mall before revitalization
In Europe, shopping centres have developed over the past 40 years
into the most important form of commercial property. Following
the construction boom in the 1990s, numerous shopping centres
today create heavy competition between existing and new centres,
which makes timely action necessary for older shopping centres to
maintain their marketability under increasing competitive pressure.
The word "revitalization" is on everyone's lips.
The customer service, lighting, furniture, variety and quality of
restaurants all are factors that determine whether a customer will
stay only briefly or for several hours in the shopping centre.
Modern, competitive retail properties and shopping centres arise
from concepts that are not only in line with the current market
situation, but also take future needs into account. This requires a
kind of dynamic property with rental space that can be adapted at
any time to current requirements.
But that alone is not enough to ensure the success of a site.
− property and competitive analysis
− accounting for market changes and trends
− increasing potential (rental income forecasts and investment estimates)
− new concepts and leasing
− implementation and project management, tenant coordination
− management of external architects
− marketing concepts for repositioning in the market
Shopping has a high priority in how many people organize their personal leisure time. A successful shopping centre thus requires not
only an attractive segment tenant mix, but also a strong amenity
value to make it a desirable leisure experience and make it a cut
above the online retail experience.
The successful revitalization of shopping centres and retail
properties requires the right strategy. We achieve this by using the
following tools:
REDESIGN OF THE CITY GALERIE ASCHAFFENBURG
Since 1978, we have managed the City Galerie Aschaffenburg, which with its
26,000 daily visitors, is among the most popular shopping centres in Northern
Bavaria. The centre has been comprehensively revitalized numerous times and has
expanded its retail space from 30,000 to 50,000 square metres. The conversion
of the parking garage made it possible to accommodate a total of 1,700 parking
spaces over eleven levels. A new lighting and design concept has brought more
daylight into the centre’s interior, added bright natural stone, new shop fronts,
granite floors, stainless steel railings and glass for a more attractive, contemporary
appearance. We participate in all of the renovation and revitalization efforts and
either handle project management ourselves or in coordination with other parties.
City Galerie Aschaffenburg: shopping mall today
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RETAIL REVITALIZATION | Bilfinger Real Estate
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Expansion management
“With market knowledge and retail
expertise, we advise international
retail brands’ expansion into
Europe.”
Your entry into Europe’s most profitable market
The German retail market, with its turnover of more than €400 billion, is
the largest in Europe and in recent years has become ever more attractive
as an expansion target for foreign retail companies. The stable economic
situation and continued positive buying behavior of German consumers
have attracted many foreign retailers to large and medium-sized cities.
Many new international concepts have taken root since 2009 in the German market, particularly fashion labels aimed at young, trend-conscious
target groups, labels such as Bershka, CCC, Urban Outfitters, Uniqlo, Pull
& Bear, Forever 21 and Primark. In addition to retail shops in prime locations, shopping centres top the list of properties as locations of choice for
international concepts.
A successful expansion outside a retailer’s home country requires a
comprehensive knowledge of the retail market in question, detailed
information about legal issues, a strong network of leasing managers
and owners, as well as a good overview of the real estate market in the
cities and regions of the country. For foreign retailers who want to expand
into Germany, it is therefore important to work from the beginning with
a competent partner with an intimate knowledge of local markets and
a local presence. This makes it possible to calculate costs and risks for
market entry and to keep them as low as possible.
The Bilfinger Real Estate Group assists retailers in breaking into the
German market. From concept consulting on developing a location profile,
to site selection, to concluding the lease agreement and store expansion,
we handle all the services needed for successful site planning and expansion. By integrating external partners, we ensure a solid legal foundation
for all labour and tax issues.
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DE PASSAGE in The Hague has been managed since 2007 by Bilfinger Real Estate. The Hague‘s famous Arcade was
built by local dignitaries between 1882 and 1885 for the express purpose of ‚high-class shopping‘ in imitation of
Paris. The Netherlands‘ oldest shopping arcade is an official UNESCO monument. Nestled among passageways,
glass atria, pedestrian bridges and chiselled façades, you will find 20 boutique stores, bustling food & drink
establishments, and even a hotel.
EXPANSION MANAGEMENT | Bilfinger Real Estate
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The CEYLAN KARAVIL PARK in Diyarbakir, with a total area of 165,000 square metres, is one of the largest mixeduse complexes of southeastern Anatolia. Our retail real estate specialists in Turkey have been responsible for
centre management and leasing activities for the shopping centre, with its 200 stores and 65,000 square metres of
retail space, since 2013.
Asset management
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Asset management
Capital markets
Our professional asset management service includes the strategic
and operational ownership functions. Our asset managers have a
deep understanding of commercial real estate and the investment
objectives of the owner. Whether it is a downtown commercial
building, a retail centre or a large shopping centre − we guarantee
optimum value, minimize risk and ensure the long-term viability
and value of your retail property. We handle purchases, the hold
phase, revitalization and sales.
In the dynamic retail business, a clear strategy and timing are
crucial for investment success. Our capital markets service includes
all buying and selling activities for investors and portfolio holders.
Our specialists develop investment and exit strategies, provide
recommendations to optimize sales, identify and acquire investment properties and advise our customers during the due diligence
review. In the process, we tap into our years of experience, deep
market knowledge and comprehensive networks.
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Construction, FM and energy
consulting
Low operating costs for higher added value
Your partner for renovations and expansion
The efficient use of energy reduces day-to-day operating costs for
retail properties and significantly improves their value performance. The energy monitoring program designed by Bilfinger Real
Estate records all of the building services equipment in your retail
property, determines the exact energy consumption and provides
solutions and tools to significantly reduce and continuously monitor
energy consumption and associated operating costs. In addition,
we offer consulting in every aspect of facility management, assist
owners and investors during the service contractor calls for tender,
as well as the subsequent planning and development of energy-saving solutions for building safety, waste management and building
services equipment maintenance. Our auditors perform all standard
green building certifications through the DGNB, LEED, BREEAM
and EU Green Building programs.
The structural condition of a property has a decisive impact on its
occupancy rate, energy efficiency and overall performance. The
experienced construction and project management staff at Bilfinger
Real Estate manages all of the activities associated with structural
changes to your property.
In the planning phase, we create a project management plan and a
binding investment calculation based on a detailed analysis of the
necessary construction measures. For new construction or major
remodeling projects, we manage the tendering of architectural
competitions. During the implementation phase, we handle technical and financial project management, as well as coordination
and management of all of the project construction measures. With
predictable total costs, realistic scheduling and continuous quality
control, we ensure a successful construction project and act as a
central point of contact for our customers.
We assist you in selecting the right certificate
and carry out the entire certification process
for you.
In most of our managed shopping centres, we are also responsible for FACILITY MANAGEMENT services. This
starts with the tender for maintenance and repair activities in the centre and continues with the subsequent management and monitoring of the contracted services. We ensure that heating and cooling systems work, escalators
are maintained, light bulbs are replaced, and organize and manage the security service. In addition, we manage the
cleaning of the centre and make sure that its doors open and close on time.
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CONSTRUCTION, FM AND ENERGY CONSULTING | Bilfinger Real Estate
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International
references
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Commercial real estate expertise in more than 50 locations
worldwide
01_Airport Outlet Centre, Istanbul,
Turkey
03_ Buyaka, Istanbul,
Turkey
05_ Arena Park Shopping Centre,
Coventry, United Kingdom
07_ Cherry Tree Shopping Centre,
Wallasey, United Kingdom
We are wherever our customers need us. In addition to our comprehensive
office networks in Germany and the UK, we have a presence in Turkey, the
Netherlands, Switzerland, Poland, Canada and Australia with numerous
offices. With our management expertise we stand shoulder-to-shoulder as a
reliable partner to investors and international retail portfolio holders worldwide − competent, experienced and well connected in the local and
regional markets.
- Total area: 81,000 square metres
- Managed since: 2008
- Total area: 250,000 square metres
- Managed since: 2012
- Total area: 69,000 square metres
- Managed since: 2010
- Total area: 54,900 square metres
- Managed since: 2010
02_Koopgoot, Rotterdam,
The Netherlands
04_Plato Shopping Centre, Istanbul,
Turkey
06_ De Promesse, Lelystad,
The Netherlands
08_ Shopping Centre Koperwiekplein, Enkhuizen, The Netherlands
By tapping into the Bilfinger Group network of locations, our customers also
benefit from the full range services of an engineering and service company −
on every continent and in nearly every country in the world.
- Total area: 14,400 square metres
- Managed since: 1996
- Total area: 53,500 square metres
- Managed since: 2013
- Total area: 7,000 square metres
- Managed since: 2014
- Total area: 5,500 square metres
- Managed since: 2003
INTERNATIONAL REFERENCES | Bilfinger Real Estate
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Real Estate
GERMANY
Bilfinger Real Estate GmbH
Moskauer Str. 27
40227 Düsseldorf
Germany
Phone: +49 211 38059304
www.realestate.bilfinger.com
THE NETHERLANDS
Bilfinger Real Estate B.V.
Euclideslaan 135
3584 BR Utrecht
The Netherlands
Phone: +31 30 2565165
[email protected]
www.realestate.bilfinger.nl
AUSTRALIA
Bilfinger Real Estate Australia
Level 51, Rialto Tower
525 Collins Street
Melbourne VIC 3000
Australia
Phone: +61 3 96020200
[email protected]
www.realestate.bilfinger.com.au
TURKEY
Bilfinger Real Estate Turkey
Büyükdere Cad Maya Akar Center B Blok No:100
D:58 Esentepe
34394 Istanbul
Turkey
Phone: +90 212 2730075
[email protected]
www.realestate-tr.bilfinger.com
CANADA
Bilfinger Real Estate North America
49 Wellington St. E
Suite 201
Toronto
ON M5E 1C9
Canada
Phone: +1 416 6491812
[email protected]
www.realestate.bilfinger.ca
SWITZERLAND
Bilfinger Real Estate AG
Industriestrasse 21
8304 Wallisellen
Switzerland
Phone: +41 44 8787878
[email protected]
www.realestate.bilfinger.ch
POLAND
Bilfinger Real Estate Poland
Al. Armii Ludowej 26
00-609 Warszawa
Poland
Phone: +48 22 5793234
[email protected]
www.realestate.bilfinger.com
UNITED KINGDOM
Bilfinger GVA
65 Gresham Street
London, EC2V 7NQ
United Kingdom
Phone: +44 8449020304
[email protected]
www.gva.co.uk