Retail Estates has finalized the acquisition of retail park Alexandrium II Megastores in Rotterdam. The investment in the acquisition of the retail park amounts to €81.5m (including transfer tax, due diligence and transaction costs). All retail units are currently leased out with a total rent of € 5,763,262. Retail Estates has also built a 36,95% stake in Alexandrium III Woonmall since October 2022 through a 50/50 joint venture with Westpoort Alexandrium B.V. (family Roobol).
The investment was financed partly with the proceeds of the successful issue of new shares in the context of the optional dividend for the amount of €16.89m, and with bank financing for the remainder.
Alexandrium II Megastores, Alexandrium III Woonmall and the regional Shopping Center Alexandrium (Alexandrium I – owned by Klepierre) are part of the largest out-of-town retail area in the Randstad region. The structural connection between the three retail parks creates a very complementary mix and a retail offer that is exceptional for the Netherlands, with a total of 200 retail units over a surface area of 111,500m².
All shops are open 7 days a week and attract 15 million visitors each year. Thanks to its unique location on the outskirts of the second-largest city of the Netherlands and taking into account the exceptionally flexible town planning regulations, this retail park is without any doubt the crown of the real estate portfolio in the Netherlands. Over the past six years, Retail Estates has taken a leading position in out-of-town retail. This Dutch portfolio consists of thirteen retail parks, two home decoration malls and three individual retail units, i.e. a total of 301 retail properties.
