Henderson adds two French malls to its portfolio

Henderson Global Investors has purchased two shopping centres in France on behalf of its German joint venture, Warburg-Henderson. Grand Quétigny Shopping Gallery in Quétigny, Dijon,and Ile Napoléon in Mulhouse-Illzach, Alsace were acquired for a total of EUR 151 mln.

The assets were bought from French listed property company Klepierre and increase Henderson's retail portfolio in France by over 23,000 m².

Henderson was advised by Wargny-Katz, Ashurst, Gide, CBRE and Feral. The sellers were advised by White & Case and Etude Attal & associés.

Grand Quétigny Shopping Gallery was acquired on behalf of two Warburg-Henderson European funds. The asset is located in a dominant retail location within the Dijon region and has a catchment of 331,000 within a 30-minute drive time.

The shopping centre is fully let and provides 12,000 m² of retail area across 66 shops, restaurants and cafés. It adjoins a Carrefour hypermarket with an additional 15,700 m² retail space, which was not part of the transaction.

Ile Napoléon is located in an established regional retail zone within the centre of Mulhouse, which is the largest city in the French department Haut-Rhin and the second-largest city in Alsace with a population of 280,000. The centre's full catchment area is 500,000 people within a 30-minute drive due to its close proximity to Germany and Switzerland.

It comprises 8,000 m² with 52 tenants including Maison du Monde, Sephora and Camieu. The acquisition also comprises a retail warehouse with 2,516 m² total floor space that is let to toy retailer Toys'R'Us. It was acquired for the Warburg-Henderson KOOP Fund.

Henderson Global Investors manages a £12.4 bn (EUR 9.6 bn) property business.