The property investment market in the Netherlands has seen a renewed focus on retail with EUR 1.5 bn invested to end Q3 this year, compared to EUR 1 bn throughout 2009. According to Savills, this focus on retail investment has returned earlier than forecast but is anticipated to remain over the next few years.
The property investment market in the Netherlands has seen a renewed focus on retail with EUR 1.5 bn invested to end Q3 this year, compared to EUR 1 bn throughout 2009. According to Savills, this focus on retail investment has returned earlier than forecast but is anticipated to remain over the next few years.
Savills reports that four portfolio transactions, each over EUR 100 mln, significantly contributed to overall sales volumes. In addition, Unibail-Rodamco is disinvesting a substantial part of its Dutch retail property portfolio. In the largest disposal, listed company Wereldhave acquired five shopping centres from Unibail-Rodamco for EUR 235 mln. Unibail-Rodamco sold other assets to Altera and Syntrus Achmea.
Savills said that demand for assets over the past year is such that gross yields have hardened and high street property yields now stand at 5-5.25%, which is down 40 bps from January 2010. Shopping centre prime yields are at 6.25%, down 25 bps from January 2010 and retail warehouses have recorded a slight correction to 7.75%.
