A joint venture between Neinver and TH Real Estate, dubbed Neptune, has acquired the development site for Amsterdam The Style Outlets at Sugar City in Halfweg.
Financial details were not disclosed.
The new centre, due to open in autumn 2020, will become the 14th European asset in the Neptune portfolio and its first centre in the Netherlands.
'Neptune’s acquisition of what will be the first premium outlet centre in the Greater Amsterdam area reinforces the JV’s solid and successful growth,' said Vanessa Gelado, investment director of Neinver.
'Amsterdam The Style Outlets is set to become a prime outlet asset in Europe, building on its excellent retail location, large catchment area of residents and tourists, outstanding architecture and an engaging brand mix.'
The outlet, which is now in the construction phase, will feature 115 stores set across 19,000 m2 of GLA.
'Outlet centres have outperformed the market average sales growth over the past decade and we are thrilled to add a new country to our strong portfolio of outlet assets. Amsterdam The Style Outlets provides us with an exciting opportunity to create a first-class retail experience in a thriving city,' said Charlotte Ashworth, fund manager at Neptune, TH Real Estate.
The Neptune partnership, launched in 2014, currently includes 13 assets covering 304,500 m² of GLA, five of which are in Spain, another five in Poland, two in Italy and one in France.
