Savills IM buys Dutch asset for European retail fund

Savills Investment Management has bought a Dutch retail asset.

The investment manager said it has bought the AaBe Retail Park in Tilburg, taking its total investment commitments in the region to €100m.

The acquisition is the firm’s third Dutch deal this year.

Ian Jones, investment director at Savills IM, said: “We have been monitoring the improving Dutch economy in 2015 and believe that the Netherlands offers a compelling story in terms of the possibility to acquire prime real estate in the retail and logistics sectors at attractive prices compared with other leading western European economies.

”We anticipate making further acquisitions on behalf of clients in the coming months, to complement the investment of approximately €100m so far.”

The 30,000 sqm aaBe asset is largely pre-let to tenants including Lidl, Jumbo, Blokker and BCC. The asset’s developer, Rialto, will continue manage the property.

Savills IM said it has this year bought a prime retail high street development in Enschede and an Amsterdam logistics asset for its European Logistics Fund.