The city of Coesfeld benefits from a wide catchment area due to the intersection of the federal highways B474 and B525, as well as direct regional train connections to Münster and Enschede (Netherlands). With over 2,000 companies, the city has a healthy mix of industries with a high commuter balance.
With the small-scale structure of Coesfeld’s retail sector, Kupferpassage has a unique selling point as the only shopping arcade in the city.
Furthermore, Kupferpassage is located in the city center of Coesfeld, directly on the pedestrian zone. It offers 13 specialty stores and has 160 parking spaces. The mixed-use property has a lettable space of close to 15,000 sqm, of which 47% is retail, 27% is parking (operated by ERWE itself) and 19% is residential apartments.
Acquired by ERWE in March 2020, Kupferpassage is in very good condition and has been let long-term to quality tenants such as H&M, Talia and dm-drogerie markt. Moreover, ERWE sees additional development potential for the remaining nearly 10% of currently vacant space, so that further increases in rental income can be expected.
All in all, ERWE plans a total investment of € 20 million, whereby the property will be continuously optimized in the coming years.