VastNed Retail has acquired an interest in the shopping center Carrefour Limoges-Corgnac in Limoges, France, for €18 million. The net initial yield in fully leased state amounts to 6.9%.
Shopping center Carrefour Limoges-Corgnac is a strong district shopping center in the west of Limoges (135,000 inhabitants). The center has a total floor space of 22,000 m² and has recently been completely renovated and expanded. The anchor tenant is a Carrefour hypermarket with a floor space of 6,800 m². The remainder of the shopping center consists of 53 retail units, a petrol station and parking facilities for 950 cars, 500 of wich are covered. VastNed Retail has acquired ownership of 26 retail units with a total floor space of 5,587 m², equalling 47.1% of the center excluding the hypermarket.
Source: VastNed Retail