Asset management and leasing update

Bruton Capital is pleased to announce several asset management and leasing initiatives implemented on behalf of its investors to benefit the portfolio it oversees and manages.  

At the the 22,915 sq.m. Mansfeld Centre in Hettstedt, Germany, Bruton Capital has undertaken an active asset management, development and leasing plan. A long-term lease was signed with Lidl supermarket at the end of 2022 for 1800 sq.m. of retail space. As part of this leasing initiative, Bruton Capital will oversee the renovation and buildout of the vacant commercial building on the premises, which will implement ESG undertakings and involve capex expenditures exceeding €4 million.  

Bruton Capital is negotiating other long leases for the remaining vacant space at Hettstedt with several stable German retailers with strong covenant strength. These leasing initiatives are part of Bruton’s strategy to improve and reposition the asset. 

A long-term lease was also signed at the Alsfeld center in Hesse, Germany in early 2022 with German retailer Action for a retail space of 1000sq.m. Bruton financed and oversaw the buildout of the Action space with new energy efficient installations which has enhanced the asset’s value. Bruton Capital is also in advanced discussions with other strong German retailers to secure long term leases for the remaining vacant space at Alsfeld, which will add additional value to the property. 

In the 12’675 sq.m. retail centre in Schwerin, Bruton Capital has negotiated a long-term lease with Action for 1213 sq.m. in a stand-alone property, as well as several leases with small office and retail tenants at higher rents. These leases include a pharmacy, nail studio and other service-oriented tenants that have enhanced the customer experience, improved the tenant mix and increased the cash flow at the centre. Bruton Capital’s in-house technical team has overseen the construction of the interior buildouts of these spaces using modern, energy-saving materials to deliver high quality interior finishes.  

At the retail centre in Finowfurt, Germany, Bruton Capital negotiated a long lease extension in 2023 with Obi for its 6744sq.m. store, which has operated at the centre for many years. As part of this lease extension, Bruton Capital’s in-house technical team will oversee the new buildout of Obi’s delivery and logistical platform.  

Regarding these leasing and asset management initiatives, Jairaj Amin stated: “we continue to make substantial improvements, lease extensions and upgrade across all of the properties in our portfolio to improve our ESG ratings and create value.”  

NOTES FOR EDITORS: 

Bruton Capital is a partnership based in Frankfurt and London providing the full spectrum of real estate investment and asset management capabilities to investors in Germany. Bruton Capital advises a number of private investment vehicles, each having a different strategy, with a principal focus on retail investment.