H&M extends lease in WILMA and brings second H&M HOME to Berlin
H&M and Unibail-Rodamco-Westfield (URW) Germany are sending a strong signal for offline retail, for Berlin and for WILMA in Berlin Charlottenburg-Wilmersdorf: The Swedish textile retailer H&M extends its current lease in the shopping center for the long term and also increases the sales area. WILMA is operated by URW and owned by Ivanhoé Cambridge. The rental area, spread over three floors, will be expanded by an additional 350 square meters to now nearly 3,200 square meters. Berlin’s second H&M HOME will move into the new space. Future visitors of WILMA will find a wide selection of decorative items, home textiles and accessories here. The necessary refurbishment measures, which also include a fundamental modernisation of the entire store, are scheduled for completion in the first half of 2022.
The Swedish fashion label H&M is one of the most popular trend brands for young fashion and accessories. In addition, H&M has shown great commitment to wider sustainability in recent years, which is expressed, for example, in the Conscious Collection: At least 50 percent of the products are made of more sustainable materials such as organic cotton or recycled polyester. In addition to the current fashion collections from the areas of young fashion, sportswear or business outfits, visitors will in future also find home textiles and accessories in WILMA. The range includes side tables, lounge chairs and lamps, as well as decorative items such as cushions, scented candles and glasses. H&M is thus far more than an important anchor tenant in the fashion sector, but additionally a new impetus for WILMA in the Home & Living segment. After completion of the conversion, the approximately 3,200-square-meter H&M will be one of the most modern brand presences of the Swedish textile company in Germany.
Expansion of the partnership
”Together with H&M, we are sending an important signal for our visitors, the location in Berlin and the entire industry with this long-term contract extension, modernisation and expansion of the H&M store in WILMA. The intensified cooperation with our partner H&M is an important building block for the long-term attractiveness of the fashion and home & living segments in WILMA. After the extremely challenging past year and a half, we are very much looking forward to the opening of the modernized space next year,” says Constantin Wiesmann, Director of Leasing Austria & Germany at Unibail-Rodamco-Westfield.
“The extension of the lease with H&M and the new signing of H&M HOME underline the attractiveness of WILMA as a retail location and are also a result of our extensive revitalization and modernization. Both successes further strengthen WILMA’s diverse offering and thus its position as an urban local supply center – and thus represent real added value for visitors and residents. This will additionally contribute to the long-term asset quality,” adds Christian Daumann, Head of Investments Germany at Ivanhoé Cambridge.
Further highlight after successful repositioning in 2020
URW successfully completed the extensive modernisation of the local supply center commissioned by owner Ivanhoé Cambridge at the end of 2020. The repositioning centered on an even stronger focus of the location on its function as an urban meeting place and impulse generator for the district. The 1,000-square-meter market hall with a diverse range of restaurants and food outlets in the basement is its vibrating core. At the same time, the tenant and brand mix has been further optimized over the past year with more than 20 new leases and has been even more concisely focused on offerings for daily needs as well as the fashion, sports and leisure segments. Visually, WILMA is also characterized by a more contemporary interior and exterior architecture. The long-term contract extension and modernisation of the H&M store, including the addition of an H&M HOME, further strengthen this new positioning.
WILMA – social meeting place in Charlottenburg-Wilmersdorf
For more than ten years, the neighbourhood center has been the social hub in Berlin’s Charlottenburg-Wilmersdorf district. More than 100 stores are located on 32,100 square meters of rental area. The tenant mix is supplemented by the market hall with varied gastronomy concepts. The asset is optimally connected to Berlin’s public transport network via Bismarckstrasse, Wilmersdorfer Strasse and Charlottenburg subway and suburban train stations, as well as bus stops in the immediate vicinity. In addition, WILMA has 300 parking spaces.
[Reference image: H&M HOME in Ruhr Park in Bochum]