The Chasse Sud retail park offers 49 shops on a GLA of 47, 325 sq m. Credit: Eurocommercial

TwentyTwo buys Chasse Sud retail park in France

Eurocommercial Properties NV (Eurocommercial) has sold Chasse Sud, its hypermarket anchored retail park at Chasse-sur-Rhône in France to TwentyTwo Real Estate, a European real estate investment and management firm.

The property was sold at a price of €80 million net to the vendor, equal to its latest book value. Chasse Sud is located on the banks of the Rhône, between Lyon and Vienne, alongside the Autoroute du Soleil (A7) and comprises approximately 52,000 sq m including a 14,000 sq m Casino Géant hypermarket and a 5,000 sq m logistics warehouse. 

The property was extended and redeveloped in 2013, and other important retail tenants include Decathlon, Boulanger, C&A, Gemo, Bricomarché and Conforama. This sale forms part of Eurocommercial’s disposal program announced last year, which also included the sale of its city center property in Grenoble (France) and its two other standalone retail parks located in Sweden, Moraberg outside Södertälje and Bronsen in Norrköping. 

The seller was advised by the notary firm Allez & Associés and by Up! Real. Estate. The buyer was advised by the notary firm Wargny Katz, the law firm Archers and the law firm Lacourte Raquin Tatar.

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