City seizes control over Löwentor
In the heart of Lower Saxony, the historic town of Wolfenbüttel, Germany, has taken a significant step forward in its urban development journey. As of July 1, 2025, the city has become the sole shareholder of the Wolfenbüttel GmbH & Co. KG (Löwentor) project company, the driving force behind the Löwentor project.
The Löwentor project, centred around the Löwentor area, is a pivotal development initiative aiming to revitalize the commercial and urban space. The project's purpose is to enhance retail, office, and service spaces, attracting businesses and customers alike, and contributing to the local economy's growth.
The Löwentor area has been a central commercial hub for many years, but the need for modernization and upgrading of existing structures and retail offerings was recognized. The Löwentor project was conceived to renew and expand these facilities, improving the attractiveness of the area for retailers and visitors, creating a modern urban shopping centre environment.
The change in ownership and management of the Löwentor project reflects the dynamic real estate market and shifts in investment strategies. Since 2018, there have been numerous changes, with ownership typically held by investment groups specializing in commercial real estate, possibly with involvement from institutional investors. The management focuses on optimizing tenant mix, maintaining property standards, and marketing the centre to increase foot traffic and profitability.
One of the most recent changes involves Detlev Quidde, who has taken over as the new managing director of the Wolfenbüttel GmbH & Co. KG (Löwentor) project company. Quidde, who is also the managing director of the Wolfenbüttel Stadtbetriebe GmbH, replaces Benedikt Schmidt-Waechter, who has left the management of the project company.
Mayor Ivica Lukanic expressed gratitude to Schmidt-Waechter for his work on the Löwentor and his commitment to the city. Lukanic announced that the city of Wolfenbüttel has acquired the remaining shares in the project company, making it the sole shareholder. The city has been a shareholder in the project company for a long time, with an 80 percent stake since 2018.
The Löwentor project is now under the full control of the city of Wolfenbüttel, marking a new era for urban development in the town. For more detailed information about specific companies currently owning or managing the Löwentor project, or about recent investment transactions, local real estate registries or business news reports from Wolfenbüttel might provide more granular and updated data.
The Löwentor project, now solely owned by the city of Wolfenbüttel, will oversee the revitalization of retail, office, and service spaces within the Löwentor area, aiming to attract businesses and stimulate the local economy's growth (finance, business).
As a result of the city's acquisition of the remaining shares in the project company, the Löwentor project will be under the city's full control, signaling a shift in urban development strategies within the town (business).
