The company has acquired a retail park in Madrid and a commercial building in Brussels for special fund UII EuropeanM.
The commercial building at Chaussee d’Ixelles 63–65 in Brussels is located in Uptown, one of two city-centre retail districts in the Belgian capital. This refurbished shopping area, which was pedestrianised in 2018, has a footfall of over nine million visitors a year and is one of the most popular shopping destinations in the city.
The commercial building was completely redeveloped in 2017 and 2018 by the vendor, Redevco, and comprises 9,409sq m of rental space. The main tenant is discount fashion retailer Primark with 5,959sq m of retail space split over three floors (ground floor to the second floor). Its lease runs until October 2033. The remaining five per cent of the rental space is taken up by six apartments on the third and fourth floors of the building. They are let to a single tenant, Comme chez Toi, for use as social housing until March 2034.
The On Plaza retail park near Madrid, which was built in 2019, has been acquired from a private investor and offers 10,580sq m of rental space with eight rental units split across the main building, a restaurant and a separate supermarket with its own parking deck. There are a total of 312 parking spaces. The property is fully let. The main tenants are supermarket chain Mercadona, DIY store Leroy Merlin, fitness studio McFit and non-food retailer Tedi.
