Credo Mannenmode, Hoogstraat 27 The Hague
Vastned signs attractive long-term leases in The Netherlands
Vastned portfolio sought after by retailers
Vastned, the listed European retail property fund focusing on venues for premium shopping, has realised rent increases in its Dutch portfolio through new leases with Nike, MANGO and De Tuinen and a new lease contract with current tenant Credo Mannenmode.
Nike opens store on Seinedreef in Utrecht
Vastned concluded a long-term lease with Nike for over 1,000 sqm of retail space on Seinedreef in Utrecht Overvecht. The shop will open for business at the end of August. Vastned has a strong position in the shopping centre with 17 shops leased by a variety of retailers including De Tuinen, Action, Hunkemöller, The Phonehouse and Kijkshop. Nike's arrival will give the centre further momentum.
Biggest MANGO of the Netherlands in Eindhoven
At Rechtestraat 44-48 in Eindhoven's main shopping district, Vastned signed a ten-year lease with international fashion retailer MANGO. The shop, which has a façade of more than 14 meter and almost 700 sqm of shopping surface on the ground floor, matches the expansion plans of MANGO, which already occupies the adjoining retail unit. Combining Rechtestraat 44-48 with Rechtestraat 42 will create the biggest MANGO of the Netherlands.
De Tuinen expands in attractive locations provided by Vastned
In Zutphen's historic inner city, Vastned leased a 168 sqm shop at Beukerstraat 28 to national health store chain De Tuinen. Vastned also signed a lease with De Tuinen for a 135 sqm high street shop at Misterstraat 12 in Winterswijk. The leases were concluded for ten and five years respectively. The high street shop in Winterswijk has been relet as of 1 May 2014 subsequently to the bankruptcy of Free Record Shop.
Extensive renovation of Hoogstraat 27 in The Hague
Vastned has extensively renovated the high street shop at Hoogstraat 27 in The Hague. 160 sqm of additional retail space was created by making optimal use of the upper floors and by extending the back of the shop. In this renovation, Vastned has used sustainable materials and opted for a moss-sedum roof. Due to this green roof covering, various energy-saving measures and use of sustainable materials, the energy label of this high street shop improved from F to A. Vastned renewed the lease with the current tenant, Credo Mannenmode, for another ten years.
'With the arrival of strong retailers like Nike, De Tuinen and MANGO as tenants, Vastned has upgraded its tenant base. This is in line with the high street strategy focused on venues for premium shopping, which aims to improve the quality of the property portfolio. The rent increases we have realised with these leases in the still current tough retail market reflect the attractiveness and quality of our property portfolio. Attracting and retaining strong international and national retailers contributes to realising stable and predictable returns.
About Vastned
Vastned is a listed European retail property fund focusing on venues for premium shopping. Vastned invests in selected cities in Europe and Turkey, with a clear focus on the best retail property in the most popular shopping streets in the bigger cities (high streets). Vastned's tenants are strong and leading international and national retail brands. The property portfolio has a size of approximately € 1.5 billion.
