Nextensa has sold Brixton Retail Park in Zaventem, Belgium to a group of private investors for a net price of around €41m. The retail park's individual properties were sold last Friday to private investors, who each bought one or more units. Avenue acted as a broker in this and managed the transaction.
The Brixton Retail Park, with a total area of 15,072m2, has been part of Nextensa's property portfolio since its IPO in 1999. The park has proven to be a highly successful investment during that period. Rents are among the highest in the commercial rental sector, and the park has consistently enjoyed full occupancy with quality tenants over the past 25 years.
Strategically located near the E40, one of the main access roads to Brussels, the retail park comprises seven shops: Brico, Kwantum, Leen Bakker, Juntoo, De Matrassenkoning, X2O and Swiss Sense. In addition, the park has a private car park with its own charging infrastructure, including 16 Tesla Superchargers. Tenants also benefit from green electricity generated by the solar panel installations on the building's roof.
This divestment is perfectly in line with Nextensa's strategy to focus on sustainable mixed-use projects in urban environments while further reducing its debt ratio. With this transaction, Nextensa shows that its portfolio allows for smooth asset rotation, creating space for new opportunities.
"The sale of Brixton Retail Park is a historic moment for Nextensa. With this transaction, we are parting ways with our last retail property in Belgium. This allows us to further sharpen our focus on growth segments such as mixed-use urban office developments and residential projects with a focus on sustainability," said Michel Van Geyte, CEO of Nextensa.
Image source - Nextensa.
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