Müller opens new store in Elmshorn: What does that mean for the city?

Müller opens new store in Elmshorn: What does that mean for the city?

Müller takes over new location in Elmshorn

In the northern German town of Elmshorn there is a new reason to celebrate in retail. Müller has secured the 2,000 square meter space in the Neuer Markt commercial building. This is reported by the Real estate newspaper. The move follows the departure of C&A, which closed its doors in October 2023. The new tenant joins the portfolio of the landlord Real I.S. and brings a breath of fresh air into the shopping landscape of the city, which has around 50,000 inhabitants.

With this decision, Müller shows once again that they have a knack for finding lucrative locations even in challenging times. It is worth taking a look at the increasing sales in German retail, which ended 2023 with a record 649 billion euros (net). Despite the high inflation rate, optimism among retailers has grown again, like the current one HAHN Retail Real Estate Report 2024/2025 shows.

A look into the future

A nominal sales increase of approximately 3.5% to 583.3 billion euros (net) is now forecast for 2024. This means retailers are expecting sales to increase, with 60% of them optimistic about the future. Only 13% expect sales to decline, further illuminating the general retail sentiment.

Despite the recovery mentality, regulation remains a constant problem child. 71% of investors see this as a significant risk. The challenge of dealing with changes in regulatory requirements and energy requirements is a pressing issue for many. Nevertheless, 88% of investors show a clear preference for retail parks as expansion targets, which could also be important for the new developments in Elmshorn.

The necessary flexibility

In times when retail staffing shortages (58%) and rising real estate costs (51%) are challenges, the industry must adapt dynamically. Müller seems to have made a good decision with the new rental agreement in order to remain in business even in a challenging environment. In addition, the stabilization of prime yields on the commercial real estate investment market is a positive sign that the markets are slowly calming down after the storms of recent years.

The Elmshorn location could therefore turn out to be an ideal place to further promote the positive development in retail. It remains to be seen how the opening of the new Müller store in Neuer Markt will influence the shopping habits of Elmshorn residents and whether other retailers will follow suit.

For detailed information about Müller and its offers, it is worth visiting the website brochureworlds.com.