Redevco Belgium signs 44 new leases with Lunch Garden

Redevco Belgium and Lunch Garden have signed 44 new leases for existing Lunch Garden restaurants.

Lunch Garden has leased the locations for more than 15 years and had expressed an interest in developing a new concept. Over the past four years Redevco has been developing or redeveloping over 150,000 m² of its current stock of retail parks and wants to continue investing actively in upgrading its large peripheral retail sites.

This led the parties to renegotiate the existing leases. New long-term leases have now been signed covering a total of 41,000 m2, with Lunch Garden undertaking to revise its concept and to collaborate with Redevco in Redevco's further development plans.

Redevco said it would further modernise its sites, which are tenanted by Carrefour, Brico, Auto 5, MediaMarkt, and C&A alongside Lunch Garden. Two years ago, similar long-term leases were agreed with Auto 5 and Quick.