Real estate activities of the HORNBACH Group
the HORNBACH Group has an extensive real estate portfolio. This chiefly consists of retail properties mainly used by the operating units within the Group. The real estate is owned by HORNBACH Baumarkt AG, as well as by HORNBACH Immobilien AG and the subsidiaries of these companies.
The activities in the real estate sector result from the strategic decision that around half of the sales areas on which the company has retail operations should be in the hands of the Group. Given this decision, a team of first-class specialists in the field of real estate development has been built up over the years. All the requirements of real estate development in Germany and abroad are competently covered, from the search for suitable land to the complex process of obtaining building permits, to construction planning and awarding and supervising the execution of building contracts. This expertise built up over many years has become one of HORNBACH’s key strategic competitive advantages.
At the balance sheet dated on February 28, 2017, around 57% of the total sales areas used for retail (approx. 1.8 million m²) belonged to one of the group companies. The HORNBACH Baumarkt AG subgroup owned around 29% of sales areas. Its associate company HORNBACH Immobilien AG held a further 28% of DIY sales areas.
|No. of stores||Sales area|
|HORNBACH Baumarkt AG subgroup||44||514,479||28.5|
|HORNBACH Immobilien AG subgroup||43||507,923||28.1|
|Subtotal of property owned||87||1,022,402||56.6|
|Land rented, buildings owned||4||34,968||1.9|
(Differences due to rounding up or down)
In addition, HORNBACH Immobilien AG and HORNBACH Baumarkt AG both hold a number of purchase options entitling them to acquire further land at first-class locations in Germany and abroad. Moreover, group companies also already own pieces of land in Germany and abroad which are earmarked for use as retail locations.
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