In a mix of lecture and discussion, Aliena Trillig from JC Real Estate gave the students at the event “Selected Chapters of Real Estate Appraisal” an understanding of one of the most pressing problems currently facing German city centres. Caused by changing user preferences and exacerbated by the Corona pandemic, many city centres and property owners are facing the challenges of declining retail numbers, rising vacancy rates and falling property values.
JC Real Estate is committed to helping revitalise town centres and increase the profitability of properties. The portfolio at their disposal, which included renowned retail properties in prime locations, such as the Weltstadthaus in Frankfurt or the Weltstadthaus in Cologne, is not only perfectly suited for this project, but also for Aliena Trillig's explanations of it.
The basic idea is to develop customised solutions for formerly single-use properties that take special account of the location, among other things. These solutions can include the implementation of mixed-use concepts that combine different types of use such as retail, sports and office space in one property. These multiple uses create synergies and a higher attractiveness, which contributes to the revitalisation of city centres and at the same time increases the profitability of the properties. In order to check the profitability, the residual value method is used, which was first presented theoretically and then discussed using a real example.
Both the lecturer responsible for the event, Dr Markus Huhn, and Philip Gärtner from the Land Management Department were particularly grateful for Aliena Trillig's presentation. Her wealth of experience from her previous work at a renowned project developer as well as her current work at the family office JC Real Estate gave the students a unique insight into the practice of project development and illustrated the opportunities and challenges arising from the transformation of inner cities.