Miller Developments - Retail Development - Hassloch, Miller Secures German Retail Development Partner

Date: 21 Aug 2007

Miller Developments, is proposing to build a retail park in Germany after securing a 6.2 acre (2.5 hectare) site in Hassloch to the west of Heidelberg.

The commercial development arm of Miller Group, the UK's largest private development and construction company, has entered into a joint venture with local developer Prebag for an 86,114 sq ft (8,000 sq m) project which will have an end value in excess of €20 million. To date, it has concentrated on buying investment properties in Germany.

David Milloy, joint managing director of Miller Developments says: "The German market is now showing similar characteristics to the UK where a hot investment market is making development a much more attractive route.

"As with our entry into other countries when undertaking developments, we have chosen a local joint venture partner who has intimate market knowledge and a proven track record.

"Part of the site already benefits from a retail zoning, however our intention is to seek consent to extend the zoning, enabling us to develop a much larger retail park. We hope to be on site by the end of the year."

Miller and Prebag hope to submit a planning application for the Hassloch site within the next three months.

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