The Seidnitz Center shopping centre at Enderstraße 59 in Dresden has a new owner. The purchaser of the 33,200 sq m retail property in the city's Seidnitz district is London-based ARAX Properties Ltd. Global real estate services provider Savills advised the vendor in the sale process.

“Our client extensively refurbished and modernised the shopping centre to offer existing and future customers an attractive retail environment,” says Jörg Krechky, Director / Head of Retail Investment Germany for Savills.

New anchor tenants were also secured, including REWE and Aldi, to enhance the existing retail offering. Combined with Deichmann, Woolworth and dm, this created a diversified sector mix which, together with the extensive refurbishment works, successfully revitalised the Seidnitz Center as a district shopping centre. Krechky adds: “The sale of the property represents a long-term solution both for the various occupiers and local customers, securing their local supply of daily shopping requirements for the future.” In addition to approximately 19,650 sq m of retail space, the property also provides 10,300 sq m of offices and 2,600 sq m of space for medical practices.