Pan-European retail property fund VastNed Retail has acquired 33 units in the Walburg shopping centre in Zwijndrecht near Rotterdam for EUR 40.5 mln, including purchase costs. The net initial yield is about 6%.
Pan-European retail property fund VastNed Retail has acquired 33 units in the Walburg shopping centre in Zwijndrecht near Rotterdam for EUR 40.5 mln, including purchase costs. The net initial yield is about 6%.
The vendor is Unibail Rodamco, advised by Cushman & Wakefield.
The Walburg shopping centre is the dominant shopping centre of Zwijndrecht and comprises some 100 shops covering a total floor of 28,000 m2, and has over 700 parking spaces at ground level and in the adjoining underground car park.
The 33 shops acquired by Vastned Retail are largely leased to national retail chains including Jumbo, chemists Kruidvat, opticians Hans Anders and lingerie chain Hunkemöller. The total lettable floor area of the acquired part is 14,000 m2, and the annual rental income is about EUR 2.8 mln.
