AEW, acting on behalf of one of its private client funds Actipierre Europe, has acquired the Arena shopping centre in ‘s-Hertogenbosch, the Netherlands, from Aberdeen Standard Investments. The purchase price was not disclosed. The property is located adjacent to the historic city centre of ‘s-Hertogenbosch and comprises a total lettable area of approx. 8,200m², of which 95% is currently leased. Occupiers include Albert Hein, H&M and New Yorker, as well as the restaurant La Place. Additionally, the centre is situated above one of the main car parks in the historic city centre. The asset was refurbished and modernised in 2015, but also has further potential for active asset management to optimise the property.
Frederique Weber, Country Manager for the Netherlands at AEW, said: “The Arena shopping centre is strategically positioned in a central location serving the demand from the local community in and visitors of ‘s-Hertogenbosch. The asset offers an attractive income profile and a strong tenant mix, as well as opportunities to optimise value through active asset management. This makes this property perfectly aligned to the investment strategy of the Actipierre Europe Fund.”
