EuroBrief: Hines plans Copenhagen mixed-use, and two more Vendo Parks open

Hines unveils redevelopment plans for Copenhagen’s Købmagergade

“The historic buildings on Copenhagen’s Købmagergade, one of the city’s main shopping streets, are being transformed into a mixed-use redevelopment made up of new retail and a 243-room boutique hotel by innovative hotel company 25hours hotels. The project will create a new quarter for shopping and relaxation at the northern end of Købmagergade and will see the historic buildings restored and their heritage features enhanced.” Across

Deutsche Konsum REIT acquires three retail properties in Germany

“The properties are located in Stendal (Saxony-Anhalt), Zerbst (Saxony-Anhalt) and Rövershagen (Mecklenburg-West Pomerania). The purchase volume for all properties amounts to approximately €16.9 million at a total annual rent of €1.5 million, which results in a return on investment of approximately 9 per cent.” Property Magazine International

Trei opens new retail parks in Czech Republic and Poland

German development firm Trei Real Estate opened Plock, Poland’s 17th Vendo Park and the Prague area’s 10th. Property Magazine International

Neinver opens 100 per cent of its outlet portfolio in Europe

“Neinver recently reopened its four Greater Madrid and Barcelona outlet centres in Spain, thus resuming operations across all its retail portfolio in Europe.” Across

British landlord Shaftesbury is settling with tenants on unpaid rent

“The real estate firm, which focuses on restaurants, leisure and retail in London’s West End, said its EPRA net asset value was down 10.6 per cent to 11.21 million for the half-year period ended March 31. Shaftesbury also said it was in talks with about 800 of its commercial tenants to agree to tailored solutions on rents and service charges.” Reuters

UK chains Monsoon and Accessorize shut 35 stores in bid to survive

As buyer of the chains’ assets, “Adena will now enter talks with the landlords of Monsoon and Accessorize’s 162 remaining stores to see if they can reach terms to reopen them when the current lockdown ends. Adena said it hopes to save up to 100 stores and 2,300 jobs.” Reuters

UK: Three more Debenhams stores added to list of those not reopening

“Debenhams has added three more stores to its list of sites that will not reopen after lockdown, after it couldn’t agree [to] terms with retail property giant Intu.” Retail Gazette

Quiz property arm falls into administration

“The fast fashion retailer has 82 standalone stores in the UK and Republic of Ireland through its wholly owned subsidiary Kast Retail Limited and has made the decision to seek administrators from KPMG.” Retail Gazette

ULI: Collaboration between tenants and landlords crucial to recovery

“The various retail real estate markets are in a uniquely difficult period. Navigating through this will require communication and cooperation. It will be key for the industry to gather tenants, landlords and their banks around a table — virtual or otherwise,” said Andy Watson, co-chair of ULI Europe’s Retail and Entertainment Product Council and a partner at Europa Capital. IPE Real Assets

Landlords hope rent deferrals can provide tenants with a lifeline

“In the past a deferral would have come with the caveat that the tenant could be asked to vacate for an alternative tenant. Now, it’s very unlikely that a new retailer will be found and so there is more onus on retailer and landlord to try and work in partnership in order for the business to survive, although inevitably there will be some opportunism among retailers.” IPE Real Assets