30 March 2017

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The Bouwinvest Dutch Institutional Retail Fund has reached an agreement with Foruminvest for the sale of the Centrumplan shopping centre in the southern Dutch town of Rosmalen.

The redevelopment plans for the centre of Rosmalen allow for the construction of approximately 8,100 sqm of new retail space and catering facilities, as well as 39 housing units.

The construction of the project will start in May this year and stores are expected to open their doors in the summer of 2018. The transaction includes approximately 6,800 sqm of retail space. Tenants include Jumbo, Lidl, ICI Paris XL, Van Haren, Kruidvat, DFM Bloemen Levix Computers, Bakkerij Van Keulen, La Vittoria Chocolaterie and Brainwash Kappers. The building is over 85% let.

Collin Boelhouwer, Head of Retail Investments Netherlands at Bouwinvest said: "With this acquisition we take another step towards the realisation of the growth targets of the Retail Fund. It fits perfectly in our Convenience strategy due to its healthy catchment area, its two supermarkets and plenty of parking space to attract shoppers."

Aerjen Koeneman, director at Foruminvest Netherlands said: “We are happy to have reached an agreement with such a skilled and committed long-term investor as Bouwinvest. In spite of having constantly readjusted the project development plans to an evolving market, we have succeeded in preserving the high-quality design of architect Soeters. The project will provide a powerful impulse to the centre of Rosmalen."

The 39 apartments above the shops will be developed by Van Wijnen Zuid. Van Wijnen is also the contractor for the entire project.