On Tuesday 7 June 2022, Equilis Belgium completed the sale of the company that owns its retail park ‘Parenthèse’ to a fund managed by Pertinea.
Its ideal location on the busy N5 national road in Gosselies, its ambitious architecture, which breaks with the existing codes, and its stable and attractive commercial mix are all setting this retail park apart from many others. It is therefore no surprise that Parenthèse was one of only three finalists at the latest annual Excellence Awards ceremony co-organised by the Belgian Luxembourg Shopping Councel (BLSC) and Retail Forum Belgium (RFB).
“The Equilis team is delighted with the sale of Parenthèse. This transaction demonstrates that despite the uncertainty related to COVID-19 and the impact of e-commerce, interest in retail parks remains very high. The retail park concept, with its affordable rents and attractive yields, remains a winning investment product, especially in a period of rising interest rates. It is one of the few stable real estate products still offering an attractive spread,” said Nadia Vrancken, CEO of Equilis Belgium.
“With this acquisition we further enlarge and diversify our portfolio within the scope of our core investment strategy. Parenthèse’s excellent location, strong tenant mix, attractive modern architecture and focus on sustainability sets a new benchmark for the development of retail parks in Wallonia. We also like to thank the Equilis team for the pleasant cooperation which resulted in this mutually successful transaction,” highlights Philip De Greve, Managing Partner of Pertinea
With its expertise and track record in recognised retail developments (Docks Bruxsel, Bellefleur, Manufacture65, Froyennes … etc.), and experience in the development of new mixed-use areas such as the Genval Paper Mills and Court Village, Equilis’ multidisciplinary Belgian team continues to develop projects in Wallonia, as a key player in complex, mixed-use projects in city centres and their periphery.
This transaction underpins and fortifies Pertinea’s strong track record of sourcing attractive investment opportunities focused on convenience retail real estate located in Belgium and the Netherlands. Over the last three years investment initiatives managed by Pertinea recorded a total portfolio growth of over EUR 135 million. This brings the total value of assets under management of Pertinea to ca. EUR 250 million (excluding all residential development schemes). The group continues to target sound and sustainable portfolio growth both in Belgium and the Netherlands.
Key facts ‘Une Parenthèse Shopping’
- 10,000m² of retail space
- Architecture that breaks with the existing codes
- 9 retail spaces from 140m² to 2,700m².
- Retailers present : Carrefour Market by Mestdagh, Hubo, JYSK, Vanden Borre Kitchen, Impermo, BNP Paribas Fortis, Sushi World
- Location: Gosselies – N5
- 200 parking spaces
- Opened in July 2020
- 70 jobs created
Equilis has also announced the sale of another 3 retail sites.
For these developments, Equilis has also opted for ideal locations, quality architecture and an attractive retail mix.