Amsterdam, 11 February 2021 - Vastned will optimise its portfolio and concentrate on mixed-use properties in historic city centres where shopping, working, living and leisure meet. The focus will be on retail properties that attract different types of tenants and where there is potential to create apartments or offices above the shops. Where possible, Vastned aims to create clusters of properties in the various cities. That is the essence of the strategy update presented today by Vastned's new nomination for CEO, Reinier Walta. The Supervisory Board has decided to nominate Reinier Walta, interim CEO since 1 December 2020, as the new CEO at the Annual General Meeting of shareholders on 15 April 2021.
Vastned expects a strong preference for city centre retail properties in a select number of locations, due to market developments such as online shopping and changing consumer behaviour, coupled with the ongoing trend of urbanisation. In addition, there is a growing demand for housing and offices above the shops, combined with a decreasing popularity of multi-floor shops. By optimising and concentrating its city centre portfolio, Vastned is responding to this.
Download the full press release on your right.
Attachments
Original document
Permalink
Disclaimer
VastNed Retail NV published this content on 11 February 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 11 February 2021 06:04:06 UTC.
Vastned Retail N.V. is a European listed property company focusing on the best retail property on the popular high streets of selected European cities with a historic city centre, also referred to as « core city assets ». The tenants of VastNed Retail N.V. include international and national department stores that are leading in their sector; major luxury, fashion and sports brands; supermarkets; and a wide range of other retailers.
By investing in historic city centres Vastned Retail N.V. contributes to the preservation of the cultural heritage in these city centres. Vastned Retail N.V. also provides a positive contribution to the liveability and safety in city centres by creating and renovating residential space above retail units. In this way, the company endeavours to create long-term value for its shareholders, tenants, employees and society as a whole.
At year-end 2023, the group's real estate portfolio amounted to EUR 1,373 million. Over 80% of the portfolio is comprised of property located in the historic centres of selected European cities. The remainder of the portfolio is mostly made up of Belgian retail parks, supermarkets and high-quality retail property in smaller cities in the Netherlands and Belgium.
VASTNED RETAIL N.V. 
