05 Sep 2019
Swedish fashion chain H&M opened a new store in the refurbished Muntpassage in Weert on 4 September. H&M’s arrival follows a major redevelopment and refurbishment of the shopping arcade. Comprising 2,300 sqm, H&M is the largest fashion store in the new shopping centre. The opening of the whole centre is planned for October.
The Muntpassage comprises around 15,800 m2 of retail space across 50 retail units. Some of the stores feature fashion formulas such as WE, Miss Etam and C&A. In addition, the Muntpassage contains an Albert Heijn supermarket and a comprehensive range of fresh food. The shopping arcade has held a prominent position within the core shopping area of Weert, which is owned by the Bouwinvest Retail Fund, for several decades.
Redevelopment plan for Muntpassage
Top Vastgoed and Fimek are carrying out the redevelopment and have created a new design for the shopping centre with architectural firm De Drie Architecten. The key elements of the design are transparency, a new retail mix and a modern presentation of international retailers. The largest transformation involved the Nieuwe Markt, where a complete floor was removed from the existing building to double the height of the square with a transparent entrance for the shopping centre.
The Bouwinvest Retail Fund is an investment fund that is open to institutional investors. The fund focuses on the best shopping streets and centres in the Netherlands. At the end of 2018, the total invested capital comprised €1 billion and the fund generated a property return of 7.0%. The fund is one of the most sustainable Dutch retail funds, with a GRESB rating of 4 stars.