Located at Rue des Rosiers 3ter, Vastned has acquired two high street shops for €16.2 mln in total.
Le Marais, also known as the Jewish quarter, is located in the third and fourth arrondissements in Paris and is increasing popular among leading retailers. Known for its charming alleys and narrow streets, the historical quarter is home to international retailers like Ted Baker, Uniqlo, COS, new brands like J Crew and Rituals as well as luxury brands such as Moncler, Gucci, and Givenchy.
Rue des Rosiers 3ter lies at the centre of Le Marais, comprising two high street shops. The largest, at 300 m² is divided over the ground floor and basement and is let to leading international retailer Adidas. The other unit is 100 m² and is let to Suite.341 which is a concept of the French SMCP group, where three high-end fashion brands are sold; Sandro, Maje, and Claudie Pierlot.
This acquisition has increased Vastneds portfolio of premium city high street shops in Paris to €136 mln.
Taco de Groot, CEO of Vastned, commented: "Le Marais is developing into a sophisticated shopping destination. The quarter's popularity among tourists from all over the world as well as among local ‘Parisiens’ is increasingly attracting strong international retailers. Acquisitions like these of two neighbouring high street shops in Le Marais, an historical quarter with a growing demand of leading retailers, suits our strategy to grow our clusters in selected European premium cities and contribute to our goal of generating more stable and predictable results."
Source: Vastned
