Redevco Belgium acquires prime retail unit in Antwerp

Redevco Belgium has reached an agreement to acquire a 1,665m² retail unit from the local authority in Antwerp. Folllowing the deal Redevco will own the entire 12,100m² building at Meir, Antwerp's main shopping street in the commercial heart of the city. The property is fully let to the Inno Galeria department store

According to Redevco, 'the purchase represents a strategic consolidation of the company's holdings and allows an enhanced level of control over this part of Meir'. The unit is incorporated in the same building as the 10,400m² Inno Galeria department store which Redevco acquired in 2001 as part of the EUR 1bn GIB Immo portfolio. The company said the store will be completely refurbished in the forthcoming renovation of the historic building.

Redevco also owns an 8,500m² retail unit at Meir 66, which is fully let to C&A. Redevco, part of COFRA Holding, is active in 20 European countries and develops and manages a portfolio consisting of retail properties in prime locations throughout Europe's major cities. The portfolio, which also includes office buildings and logistics centres, currently comprises over 800 properties, with an estimated value of about EUR 7.6bn.