In one of the best shopping areas of Berlin, SIGNA is developing the department store property known as “Karstadt Hermannplatz” at the Hermannplatz in the Kreuzberg/Neukölln district into one of the largest inner city shopping centres. Modern residential and office spaces will also be built. The current tenant, Karstadt, will play a central role in this development.
When it was first built in 1929, the department store – with a total floor space of 72,000 m² and seven storeys – was the largest department store on the European continent. During the Second World War, parts of the building were destroyed, but were then rebuilt, starting in 1950. The property includes a total of three interconnected components – the department store, a residential and commercial building, and a car park.
As part of the project development, the residential and car park areas will be torn down, and the floor heights of the new building to be constructed will be harmoniously joined to the existing department store.
The existing building will be completely renovated, while preserving the historically listed façade. The existing site will be increased during the development phase. Karstadt will stay as the anchor tenant, while other attractive apartments and modern offices, a shopping centre and a car park deck will be built on the third storey.
The location is characterised by its central location, approx. 5 kilometres south of down town Berlin, and is integrated into an attractive urban environment with high levels of pedestrian traffic. Excellent accessibility of the property is ensured by the direct underground train access in the basement, bus connections and easy access to streets. Hermannplatz is the primary connection point and local supply and retail location for the immediately adjacent extensive residential areas. Another attractive feature of the site is the high population growth forecast for the districts of Kreuzberg and Neukölln in the coming years.