News | Press Release

Becken secures re-letting after depot closure in Westerland/Sylt

Hamburg/Sylt, February 26, 2025

• ONLY Stores Germany takes over retail space at Friedrichstraße 19
• Five-year lease concluded for around 850 square meters of space
• Store opening planned for spring 2025

Becken, a specialist in project development, revitalization, asset and investment management for commercial and residential properties, announces the successful re-letting of the retail space at Friedrichstrasse 19 in Westerland on the island of Sylt. Following the departure of Gries Deco Company GmbH (Depot) in the course of its insolvency proceedings, Becken was able to secure a new tenant in ONLY Stores Germany, a company of the Danish BESTSELLER Group. The lease term is 5 years. Grossmann & Berger Immobilien, a member of German Property Partners (GPP), brokered the lease.

The leased retail space comprises around 850 square meters, including 755 square meters of retail space on two floors and 95 square meters of storage space in the basement. The two-storey space offers optimal opportunities for product presentation thanks to its wide shop window front. The property is located in the central pedestrian zone of Friedrichstrasse, the most popular shopping street on Sylt, in the immediate vicinity of brands such as Tommy Hilfiger, Hugo Boss and Wellensteyn.

The space was handed over on February 10, 2025, and conversion work is currently underway for the planned opening on March 27, 2025.

Jens Hogekamp, Managing Director of Becken Asset Management, explains: "The rapid re-letting of this retail space shows that attractive locations remain in demand even in challenging times. With ONLY Stores Germany, we have gained a renowned tenant that will contribute to the long-term revitalization of Westerland's city centre. The new letting underlines our expertise in realizing sustainable solutions even under changing market conditions."