The Batavia Stad Outlet centre in the northern Dutch city of Lelystad has been sold to a foreign partnership with roots in the Netherlands, PropertyEU has learned.

The Batavia Stad Outlet centre in the northern Dutch city of Lelystad has been sold to a foreign partnership with roots in the Netherlands, PropertyEU has learned.

The owner of the centre, Freeland Partners, has sold its 100% stake in Batavia Stad Outlet Shopping BV, the company which owns the outlet, for a price said to be slightly over €100 mln.

The buyer has not been disclosed, but is said to be a foreign partnership with retail expertise rooted in the Dutch market.

Freeland acquired the outlet centre from Rodamco (one of the predecessor partners of Unibail-Rodamco) more than seven years ago for €102.5 mln as part of a phased purchase.

The centre was later expanded twice, in 2007 and 2009, by Stable International in Amersfoort. The extensions were also acquired by Freeland Partners.

Batavia Stad comprises around 26.500 m² and is 94% let to 100 retail units offering 250 brands. The centre has seen footfall and turnover rise by 35% and 140% respectively in the past seven years.

Shopping Parks, Freeland’s investment vehicle which held the Batavia stake, was advised on the transaction by CBRE and Houthoff Buruma.