The last of the string of players to close down their stores was Media Markt in 2014. Since then, the park has made every effort to attract new players. RED’s part in this quite work has been to generate a complete turnaround for the park, with the aim of identifying a potential “game changer”.
During July 2017, Standard Life investment and RED jointly acquired the existing retail park of around 35,000 m² from AXA. At the same time, RED entered into a leasing contract with Bauhaus to construct a new 17,000 m² store for the building supplies/hardware giant.
The former Media Markt premises of around 7000 m² were demolished immediately, and work is now underway in constructing the store for Bauhaus. This is expected to be completed during November 2018.
In parallel with this, RED is working to develop an additional 16,000 m² of retail area as a further stage in the expansion of the park. The aim is to create northern Malmö’s premiere retail destination, BERNSTORP RETAIL PARK.