Altera Vastgoed N.V. (Altera) has further expanded its retail portfolio with the acquisition of a convenience retail investment at Molenplein in Heerenveen. The complex comprises three retail units with a Jumbo and Aldi supermarket, an Action non-food discount store and five residential apartments above the stores.
The complex was built in 1988 and renovated in 2016 when the retail area underwent a complete makeover. It occupies a strategic location directly adjacent to Heerenveen’s main shopping area. By the end of this year, solar panels will be installed on the roof of the Aldi supermarket, adding to the existing solar panel array on the Jumbo supermarket’s roof. Adjacent to the supermarkets, there is a car park that serves as a primary entry point for visitors to shopping centres. In addition, the presence of several fresh food stores close by enhances the overall shopping function.
Jaap van der Bijl, Altera CEO: “The addition of the shops at Molenplein in Heerenveen has boosted the share of convenience real estate in our portfolio to more than 90%. This strategic expansion supports our investment strategy, which aims for a stable direct return, less sensitive to e-commerce and cyclical changes, and contributes to social cohesion in the neighbourhood.”
The vendor, De Hoge Dennen Vastgoed, was advised on the commercial aspects of the transaction by BRIKKS and Cushman & Wakefield, while Lubbers & Dijk provided legal expertise. Altera was assisted by Dentons with legal advice regarding the acquisition.
Image source - Altera.
Europe Real Estate — an overview of real estate developments in European countries.
