The leading specialist investor in European convenience real estate, Mitiska REIM, has completed the acquisition on behalf of the MEREP 3 fund, together with a dedicated co-investment vehicle, of the seven Cora hypermarkets and Shopping Cora galleries in Belgium.
With the transaction now closed, the large-scale transformation of these sites is entering a new phase. The company’s plan is to invest in the sites – located in Anderlecht, Woluwe, Rocourt, Hornu, La Louvière, Châtelineau and Messancy – and transform each location into a modern, successful and sustainable grocery-anchored retail centre, designed to meet the needs of shoppers, tenants and local communities.
Each of the former Cora hypermarket spaces will be redeveloped and split into several brand-new stores, including major retail players and a full-service supermarket which are still to be announced. The first stores will open in late January 2026. In the coming days and weeks, further details will be shared about how each site will be transformed.
Since the signing of the SPA earlier this year, significant progress has already been made. Agreements have been reached covering more than 40 per cent of the redeveloped hypermarket areas. Construction companies have been appointed and, in close collaboration with architects and technical consultants, are preparing to start the first refurbishment works as of 1 October 2025.
In the meantime, customers will still be able to shop at the existing Cora stores for everyday groceries and other items. The non-food sections will run liquidation sales offering customers a range of attractive discounts. Importantly, the shops in the Shopping Cora galleries remain open for shoppers throughout and will also be upgraded as part of the wider transformation plan. During the redevelopment works, additional marketing campaigns will be organised to continue attracting visitors.
Axel Despriet, Managing Partner at Mitiska REIM: “With the closing of this transaction, we are now entering the transformation phase of these seven sites. We would like to thank our financial partners, as well as the local and regional authorities, for their support in making this possible and in confirming our development strategy.”
