THOMAS DAILY

Property Investment News Germany

Neumünster: McArthur Glen can develop a 20,000 sqm DOC

The Designer Outlet Center (DOC) planned in Neumünster in the state of Schleswig-Holstein by McArthur Glen can be built. An area measuring some 8 hectares in the southern industrial area was sold to the investor by the City of Neumünster. The pertinent contract has been signed by both parties and already been notarized, the City reported. McArthur Glen wants to develop a new building with 20,000 sqm of sales area on the grounds by 2011. Planning the DOC dragged on for years: in February, 2008, the city council canceled a preliminary contract with the investor that had already been signed, and decided instead to issue a Europe-wide call for bids. The necessary modification of the master plan is now to be voted on at the city council meeting on February 17.

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