Rodamco Europe N.V. has opened the largest part of the total 16,000 m² of shopping space in De Parade in Bergen op Zoom. The market value Rodamco Europe's share in De Parade is approximately €45 million and produces a net initial yield of 6.3%.
De Parade, a development project of Bouwfonds MAB, is part of the restructuring of the city center of Bergen op Zoom and includes the area between the Zuivelstraat and St. Jorisplein. Besides 18,000 m² of retail space, of which approximately 16,000 m² is owned by Rodamco Europe, 81 houses and 2 parkings with a total of 470 parking spaces are part of this plan. The houses and parkings are not owned by Rodamco Europe.
With the realisation of De Parade, the quality of the retail offer in Bergen op Zoom is being enhanced and the branch mix is further expanded. Tenants in De Parade are, among others, H&M, Douglas, America Today, HEMA, Sacha, Dynabyte, Esprit, Jamin, Men at Work, Promiss and TUI. De Parade has a catchment area of approximately 100,000 inhabitants and is fully aligned with the historical city centre. The design is also in line with the historical character of Bergen op Zoom. This creates an attractive shopping climate for consumers.
The last part of the plan is expected to come into operation early 2007, including a MediaMarkt (around 4,000 m²) and a Super de Boer supermarket (around 2,000 m²). De Parade will be delivered let turn-key to Rodamco Europe.