P&P Group

International brands KFC, Smyths Toys and TEDi increase as new tenants the attractiveness of the retail centre FLAiR in the German city Fürth and they are boosting the space utilisation to 95 percent

Issuer: P&P Group / Key word(s): Real Estate/Contract


16.09.2024 / 08:16 CET/CEST
The issuer is solely responsible for the content of this announcement.

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Fürth (Germany), 16.09.2024 – The retail centre FLAiR in the German city Fürth announces the arrival of three new, attractive tenants on the occasion of its third birthday. ‘We are delighted that the international brands KFC, Smyths Toys and TEDi will be adding to the FLAiR's shopping and gastronomy offering this year and significantly enhancing it further,’ emphasised Eva-Maria Zurek, CEO of the  investor and operator P&P Group, at the start of the anniversary action week in the Bavarian metropolitan region: ’These are important positive steps that are particularly noteworthy in the current economic situation for retail and gastronomy. This shows the quality of the location and the centre concept.’ Kentucky Fried Chicken, one of the best-known international restaurant brands, will be represented on around 250 square metres on the second ground floor of the FLAiR from mid-October. A separate external entrance will then allow the fast-food giant, which specialises in a wide variety of chicken, to open beyond the centre's regular opening hours. Toy and toy expert Smyths Toys will welcome its customers for the first time in November on more than 1,300 square metres of retail space - in an area previously used by the virtual reality playground Hologate on the second ground floor as well as other adjacent shop areas. The non-food discounter TEDi is renting more than 600 square metres of retail space on the first ground floor, where the organic supermarket Denns was previously located, plus an adjacent area, and also plans to open this year. ‘The fact that the space can be occupied by such a well-known tenant and that we are achieving 95 per cent occupancy is a very pleasing development,’ emphasises Velimir Filipovi?, General Manager of FLAiR and responsible for the property in this position. ‘We are also already holding very promising talks for the few areas that are still open.’ At the start of the celebrations to mark the centre's third birthday, Fürth's Lord Mayor Dr Thomas Jung emphasised: ‘For this extremely important location in Fürth, it was a real new start a few years ago. Thanks to the excellent cooperation between the city and the P&P Group, we have succeeded in doing this perfectly.’ Particularly in light of the challenging opening date in September 2021, with significant coronavirus restrictions at the time, this was a remarkable achievement for everyone. ‘The FLAIR has a high quality of stay and, thanks to events, attractions and promotions, is now a central factor in Fürth, from which not only the shops and restaurants in the centre benefit, but also the entire city centre,’ adds Horst Müller, Head of Economic Affairs of the city Fürth: ’This positive domino effect on the economic structure should not be underestimated.’  FLAiR visitors will be offered numerous attractions during the campaign week, which runs until 20 September. As families with children are one of the centre's main target groups, the programme includes an oversized birthday cake, a Fürth lucky cloverleaf with numerous children's wishes that can be fulfilled by FLAiR visitors and an XXL slot machine. In total, the FLAiR offers around 60 retail outlets - with international brands as well as regional and local tenants - and a varied range of restaurants. The P&P Group took over the location in 2016, subsequently built a completely new property by 2021 and developed it into a sought-after meeting place in Fürth city centre. The average number of visitors to FLAiR has now risen to more than 10,000 per day, and 3.3 million a year. ‘The branches of attractive brands that will be added this year will certainly further boost this positive trend,’ says Filipovi? optimistically. Both new and existing tenants at FLAiR Fürth benefit from the property's special energy efficiency concept.  Above all, this includes the combination of a combined heat and power unit with three state-of-the-art chillers including resource-saving heat recovery. Thanks to this environmentally friendly concept, the experience centre property has also been BREEAM-certified by TÜV Süd with the top sustainability rating of ‘Excellent’.   About the P&P Group:
The P&P Group has been developing, revitalising and marketing residential construction projects and commercial properties for almost 30 years. With a total transaction volume of more than 3.3 billion euros and currently around 130 employees, P&P covers all areas of the value chain as an initiator, investor and asset manager. Its core competencies include the development of new buildings as well as the revitalisation and modernisation of old buildings worthy of preservation.

Press contact:
Manuel Fogadic
Isaak-Loewi-Straße 124
90763 Fürth (Germany)
Tel.: +49 (0)911 – 76606145
Mail: [e-mail]

Wolfgang Ludwig
Mathias-Brüggen-Straße 124
50829 Köln (Germany)
Tel.: +49 (0)221 – 292 19 282
Mail: [e-mail] 

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