A particularly prestigious property from the inventory of the insolvent Signa Group has found a new owner.
The Tyrol department store designed by the British star architect David Chipperfield in Innsbruck was sold to the newly founded company KHT Acquico Sarl as part of the Signa Prime Selection AG bankruptcy procedure by means of a Share Deal, the Abel Rechtsanwälte GmbH said on Wednesday. As the insolvency administrator of Signa Prime Selection, the law firm is busy using the property stocks of the real estate company.
The purchase price for the Tyrol department store was therefore “disclosed”. According to a report by the Austrian news agency APA, it should amount to around 140 million euros.
Companies from the area of Peek & Cloppenburg Düsseldorf take control
Behind the buyer of the property is the Horn Grundbesitz GmbH, based in Liechtenstein, who in turn is a daughter of JC Luxembourg Holding SCSP resident in Luxembourg. This is an investment company that is close to the Düsseldorf clothing dealer Peek & Cloppenburg. The managing directors include Patrick Cloppenburg.
The deal now announced did not come as a surprise. Horn Grundbesitz GmbH, which already belongs to several properties used by Peek & Cloppenburg, had already registered with the Austrian Federal Competition Authority in June that it intended to acquire “indirectly or directly or directly control over the department store Tyrol operated by Kaufhaus Tyrol GmbH (Austria)”, and then and then received the corresponding approval.
A “sustainable mix of offer” is sought
The administration of the property is to take over the Midstad company, which was founded last year by the Düsseldorf Peek & Cloppenburg Group. Midstad currently manages real estate in Germany, Austria, Belgium and the Netherlands, which are used by Peek & Cloppenburg, among others.
According to the APA report, Midstad Managing Director Kevin Meyer explained that the Tyrol department store is now being aimed at. The current rental structure is “good”, but can “be further improved”. Peek & Cloppenburg was already represented in the property as a tenant in the past and had operated a branch there until 2019. According to media reports, the excerpt took place at the time because negotiations on new rental conditions with the then owner Signa had failed.