Redevco acquires prime retail property in Rotterdam

On behalf of one of its investor clients retail real estate investment manager Redevco has acquired a 5,540 sqm retail unit from Investore for €28.5 million.

The former Donner building is located right in the heart of Rotterdam’s prime retail pitch and provides good opportunities to add significant value to the unit through active asset management.

Andrew Vaughan, CEO of Redevco said: “The size of the building suits the strong demand from fashion retailers looking for large-scale units in Rotterdam. Neighbouring retail properties are currently under development and we strongly believe these works add to the over-all attractiveness of the location.”

The unit lies opposite H&M and Zara stores at Lijnbaan 150, next to the site where the Forum development project will be realised and Primark is due to open its largest store (17,000 sq m) in Europe in 2018. Redevco plans to re-develop the property, which has a rich history, transforming it into a retail space better equipped for the current and future retail requirements.

Rotterdam is the second largest city in the Netherlands with approximately 625,000 inhabitants. The city, with a total retail floor area of approximately 723,860 sq m, is becoming increasingly popular as a tourist destination.

Sign up for our ACROSS Newsletter. Subscribe to ACROSS Magazine.

Ticker MORE

Award for Klaus Striebich

The retail real estate expert received the “ICSC Trustees Distinguished Service Award” in 2019

Foundation stone of Westfield Hamburg laid

On May 22, 2019 Unibail-Rodamco-Westfield (URW) laid the foundation stone of the Westfield Hamburg, located in Überseequartier, one of the major mixed-use districts in Europe, and Hamburg’s largest development project.

Sonae Sierra with another solid operational performance

The Company’s Net Result increased 25% to €19.1 million in the first quarter of 2019.

First “& Other Stories” in the Baltics

The premium and accessible fashion brand, & Other Stories opens its first ever Baltic Store in the shopping center Galleria Riga, in Riga, Latvia.

CCC opens Zagreb’s biggest shoe store

An almost 1,000 sq m store has opened its doors at Arena Centar.

Matthijs Storm proposed as new CEO of Wereldhave

The company‘s Supervisory Board announced the proposed nomination of as per August 1, 2019.