Press release

Regulated information

Ternat, 16 June 2023, 5:45 PM

A C Q U I S I T I ON O F RE T A I L P AR K A L E X AN D R I U M I I M E G A S T ORE S I N

R O T T E RD AM , TH E C R O W N OF TH E D U TC H R E AL E S TA T E P OR T F O L I O A N N U AL RE P O RT 2 0 2 2 - 2 0 2 3 A V AI L AB L E

  1. Acquisition of retail park Alexandrium II Megastores in Rotterdam, the crown of the Dutch retail real estate portfolio
    Retail Estates signed an agreement that will lead to the acquisition in early October 2023 of the retail park Alexandrium II Megastores in Rotterdam, which is part of the largest out-of-town retail area in the Randstad region. The structural connection between the home decoration mall Alexandrium, the regional Shopping Center Alexandrium (Alexandrium I - owned by Klépierre) and the retail park Alexandrium II Megastores creates a very complementary mix and a retail offer that is exceptional for the Netherlands, with a total of 200 retail units over a surface area of 111,500 m². All shops are open 7 days a week, and Alexandrium attracts 15 million visitors each year.
    The retail park Alexandrium II Megastores represents 26,500 m² of large-scale retail area subdivided into 18 units with a large number of first-rate tenants like Mediamarkt, Decathlon, Pets Place, Sportsworld and Coolblue. It is one of the few out-of-town retail parks where the town planning regulations allow for large retail units that can also be used for non-bulky goods, such as clothing, shoes and sporting goods. The retail park is fully let.
    On the roof of the retail park 2,690 solar panels are installed with a total surface area of 14,000 m², i.e. the equivalent of two football pitches. This installation is owned by Eneco, which also operates it and pays a fee for the use of the roof.
    The investment in the acquisition of the retail park will amount to € 81.50 million (inclusive of transfer tax and transaction costs). The purchase price is not higher than the fair value determined by real estate expert Stadim. The initial yield corresponds to the target set by Retail Estates at a minimum of 6% (see annual press release of 26 May 2023). After the administrative approval of the city of Rotterdam will have been obtained, the purchase will take place in early October 2023 through two Dutch subsidiaries.
    Thanks to its unique location on the outskirts of the second largest city of the Netherlands and taking into account the exceptionally flexible town planning regulations, this retail park is without any doubt the crown of the real estate portfolio which Retail Estates developed in the Netherlands over a period of six years and which makes the company market leader in out-of- town retail. This Dutch portfolio consists of 12 retail parks, two home decoration malls and 3 individual retail units, i.e. a total of 284 retail properties with a value of € 579 million.
  2. Annual report 2022-2023
    The annual report 2022-2023 of Retail Estates NV is now available on the website.

ABOUT RETAIL ESTATES NV

The Belgian public real estate investment trust Retail Estates nv is a niche player specialised in making out-of-town retail properties located on the periphery of residential areas or along main access roads to urban centres available to users. Real Estates NV acquires these real estate properties from third parties or builds and commercialises retail buildings for its own account. The buildings have useful areas ranging between 500m² and 3,000m². A typical retail building has an average area of 1,000 m² in Belgium and 1,500 m² in the Netherlands.

As of 31 March 2023, Retail Estates nv has 1,013 premises in its portfolio with a total retail area of 1,211,004 m², spread over Belgium and the Netherlands. The occupancy rate of the portfolio was 98.08% on 31 March 2023, compared to 97.83 on 31 March 2022.

The fair value of the consolidated real estate portfolio of Retail Estates NV as at 31 March 2023 is estimated at € 1,888.56 million by independent real estate experts.

Retail Estates NV is listed on Euronext Brussels and Euronext Amsterdam and is registered as a public regulated real estate company.

Ternat, 16 June 2023

Jan De Nys, CEO of Retail Estates nv

For more information, please contact:

Retail Estates nv, Jan De Nys - CEO, T: +32 2/568 10 20 - F:+32 475/27 84 12

Retail Estates nv, Kara De Smet - CFO, tel. +32 2/568 10 20

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Retail Estates NV published this content on 16 June 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 16 June 2023 15:55:42 UTC.