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Het Stroink. Credit: Altera

Altera acquires local shopping center Het Stroink

Altera Vastgoed has acquired off-market local shopping center Het Stroink in Enschede (NL) from WP Retail Invest CV (“WPRI”). The center has recently been renovated by WPRI to create a retail complex with a pharmacy, a medical center, three primary schools, a nursery and a petrol station.

Het Stroink is the third local shopping center Altera has added to its Food & Convenience portfolio in recent months, following its earlier acquisitions of Brouwhorst in Helmond and De Vlashoeck in Bergschenhoek.

Jaap van der Bijl, CEO of Altera, says, “With an A++ energy label, Het Stroink will make a strong contribution towards achieving our sustainability goals. On top of that, the varied mix of national and local retailers plus the community amenities significantly bolster the neighborhood’s social cohesion and appeal. Our strategy in the convenience segment is aimed at solid growth and development of the portfolio.”

The center has recently been renovated, with sustainability and climate-adaptive measures prioritized alongside rejuvenation of the distinctive architecture. New features include natural ventilation, “green” parking spaces, separate drainage systems, and the use of circular local wood for the external cladding and white-and-grey bitumen roofing. With a floor area of approximately 5,800 sq m, the center’s tenants include supermarkets Albert Heijn and Aldi, druggist Kruidvat, and a variety of fresh-food retailer.

The upgrade was nominated for the Kern Annual Award in 2021. Now focusing on transformation and renovation, this is the successor to the NRW Annual Award, which was presented between 1989 and 2020 to the year’s best retail development in the Netherlands.

WPRI’s core activity is the redevelopment of local shopping centers. According to managing partners Gert-Jan Veldkamp and Roderik Lüschen, “Our redevelopment mission is about creating vibrant shopping centers with supermarkets as their main draw, together with other shops and supporting hospitality outlets. Together with amenities like schools, medical care, and ancillary services, these centers form the heart of their neighborhood and are rooted sustainably in the local community.”

Altera received technical assistance with this acquisition from PVM and legal support from Dentons. WPRI was assisted by retail estate agency KroesePaternotte and notaries Core Notariaat.