#PROVADA Colliers scales up retail team in Netherlands

Colliers International is planning to scale up its retail team in the Netherlands following the appointment of Etienne van Unen as director of retail.

The company is poised to announce the addition of a new team member later this month, which would bring the retail agency team to five, Van Unen said. This number excludes Colliers International’s two retail investment specialists in the Netherlands.

The further development of the retail team is a natural next step for Colliers International’s Dutch operations, the company’s CEO Jaap van Rhijn told PropertyEU in an interview. ‘We already have expertise in the area of retail valuations and investment transactions and it was clear to us for some time that we needed to expand our expertise in this area. We are now putting our retail unit clearly on the map.’

Van Rhijn sees scope in the Netherlands to expand Colliers’ offering in the area of retail asset management but also project management. ‘If you look at the Dutch retail landscape, the theme for the coming years is how to manage and upgrade existing stock. There won’t be much more new development. We see a lot of opportunities for redeveloping and upgrading existing centres.’

Colliers International’s Dutch unit has already built a track record in the redevelopment of outdated office buildings into hotels and Van Rhijn sees parallels with the challenges facing retail landlords. ‘We understand the bricks and mortar, but also the hotel business. We can say the same now for the retail business. There are three parties that you need to understand: the landlord, the retail and the consumer. ’

Van Unen has a long history in the retail sector where he has worked with various Dutch retail specialists including developer MAB and its shopping centre manager SCM (now part of CBRE), adviser WPM and Amsterdam-listed investor Corio. Van Unen: ‘I have been through the mill when it comes to shopping centre management and have been involved in all aspects of the business including asset management, leasing and marketing.’

While the majority of potential clients are Dutch, a growing number of international investors are targeting the Dutch retain market and Van Unen sees opportunities to assist them in streamlining and enhancing their portfolios. Mount Kellet is a case in point. Earlier this year, the US company acquired a portfolio of existing shopping centres in the Netherlands from listed retail company Corio in a joint venture with local player Sectie 5 for over €100 mln.
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Van Unen: ‘The portfolio contains a mix of small and large centres. Some of them may need no more than an aesthetic upgrade, for example a new lighting plan or entrance. Others may require a complete or partial reconfiguration involving up-scaling or downscaling of existing spaces or the introduction of new tenants.’

Van Unen is also keen to tap into Colliers international network and bring new formats to the Netherlands. ‘We’re currently in talks with a number of international retailers whose formats we think will fit in the Netherlands.’