Orion and 4 More repositioning boosts Wiesbaden retail centre

Lili, Wiesbaden, 15.06.22, Fotograf: Martin Leissl

Orion Capital Partners and its operating partner 4 More Capital Partners are in talks to add more entertainment and retail park-type tenants to the rent roll at mixed-use complex Lili in Wiesbaden, west of Frankfurt continuing a repositioning process that has already been declared a success.

Orion and 4 More have been repositioning the retail component of what is now a hybrid centre to focus more on convenience. Part of the process was to create a strong grocery offer.

Current anchor tenants include REWE, Aldi, H&M, New Yorker as well as Action, Woolworth and Smyths Toys. Deals have been concluded with Asian speciality retailer and grocery store GoAsia which has taken about 1,000 sq m and non-food discount retailer Tedi which has taken 750 sq m. Both stores will open in the second half of 2023. Meanwhile, existing tenant jewellery retailer Bijou Brigitte, is relocating to a larger unit.

The repositioning initiative has already produced significant results, Orion stated. In 2022 the centre recorded a footfall of 4.5 million visitors, the highest since the centre was acquired. Already, the count in 2023 is higher than 2022 on a like-for-like basis.

The F&B mix is also changing and the addition of Mexican fast-food chain Chidoba and Chinese noodle concept Noodle Maker have also increased footfall in the centre’s food court.

Orion partner Chris Fritz said: “the large capex and revitalisation program, as well as the strategic repositioning of the Lili Wiesbaden is paying off. As a result, we are currently experiencing an unprecedented demand from prospective tenants that share our vision for the future of this exceptional retail destination.”

He added that, despite there being only a few vacant units left, negotiations are underway to add additional entertainment and retail park-type tenants to the scheme’s first floor.