Rodamco Europe N.V. reinforces its presence in France by purchasing an additional 13,630 square meters of retail space located in the shopping centre Parly 2 (Le Chesnay - Yvelines), France. The asset is bought from SCI Parly Hausmann for an amount of €27 million with a yield of 6.13%.
With this acquisition, Rodamco Europe has increased its ownership from 46.95% to 68.63% of the original part of Parly 2, Tranche A7, comprising a total of 64,287 m² of gross lettable area.
The acquisition follows a continuing expansion of Rodamco Europe´s ownership in Parly 2 and is in line with Rodamco Europe´s strategy to focus on top quality retail in dominant locations in its key markets.
The French property portfolio, valued over €1.2 billion, comprises nine shopping centres (five in the greater-Paris region - Parly 2, Velizy 2, les Ulis 2, Bobigny 2 and Côté Seine). Additionally, 7 % of the French portfolio consists of offices and industrial properties.
Parly 2 is a super regional shopping centre of 87,000 m² in a dominant location in the western part of Paris, where it benefits from a wealthy trade area and a high sales/m² ratio. The shopping centre has 20 million visitors per year. Main tenant is SCI France Printemps (the Pinault Printemps La Redoute Group).
Source: Rodamco Europe