A prime piece of property in the centre of the Baltic seaside resort Timmendorfer Strand has changed hands. The property, a 430 m² site at Timmendorfer Platz 1a with a row of shops, was sold by its private owner to developer Marn Objektmanagement.
The property is located in the commercial centre of Timmendorfer Strand between the main promenade, Kurpromenade, and the park. Two of the three shops in the row have been re-let since the sale, the original lease is still in force for the third shop.
“These leases show that retailers are extremely interested in shops on the Baltic coast,” says Jan Stieghahn
, retail property consultant at Grossmann & Berger, a Hamburg-based estate agency and member of German Property Partners
(GPP). Stieghahn, who specializes in properties on the North Sea and Baltic coasts, brokered both the sales contract for the site and the two shop leases.