The site of Orange les Vignes covers a total of around 89,000 sq m with 1,234 parking spaces. Credit: Commerz Real.

Bradford AM buys retail park in France for €35.5 million from Commerz Real

Commerz Real has sold the Orange les Vignes retail park in southern France to Bradford Asset Management for €35.5 million for its RPCI fund. It had been in the portfolio of the Hausinvest open-ended real estate fund since its completion in 2010.

“Following the successful repositioning, we took advantage of the sustained demand to achieve a good result for our investors by selling this retail property, which no longer fits into our fund strategy,” explains Mario Schüttauf, fund manager of Hausinvest

Located south of the city of Orange in the Provence-Alpes-Côte d’Azur region, Orange les Vignes has around 30,500 sq m of retail space. The main tenants are Jardipassion, Stokomani and Kiabi. 

Selective investments including new playgrounds and sanitary facilities, have improved the quality of stay in the center, as a result of the measures implemented by property manager Terranae.  

Commerz Real was supported in the transaction by the broker Savills and the tax advisor Fidal.

Related

Subscribe to ACROSS Magazine

Across print & digital

Enjoy ACROSS – The European Placemaking Magazine on your desktop, tablet, or smartphone.

Latest Print Issue

Top