Vastned acquires and divests property in the Netherlands and France and appoints new Investor Relations Manager
Vastned, the listed European property company focusing on ‘venues for premium shopping’, has expanded its core city assets portfolio by making two acquisitions in Utrecht for € 15.1 million in total. Also, non-strategic properties were sold in the Netherlands and France for a total of € 20.8 million. Furthermore, Ronald Beemsterboer was appointed as new Investor Relations Manager as of 1 April 2018.
Acquisitions in the historic city centre of Utrecht
In line with the strategy to keep improving the quality of the portfolio and the results, the core city assets portfolio was expanded with two acquisitions in Utrecht.
Vastned purchased Drieharingstraat 2-22 for € 11.0 million including acquisition costs. Drieharingstraat connects Oudegracht with Vredenburg and is considered as Utrecht's new culinary high street. This acquisition concerns four food and beverage properties with office space on the floors above. The total surface area is approx. 3,000 square metres, leased to nine tenants. The properties will be transferred on 1 May 2018. JB Retail advised Vastned on this transaction.
Vastned has made good progress on the execution of its strategy. I am proud that we have completed this off-market transaction in one of the foremost food & beverage streets in Utrecht.
In addition, Vastned acquired the property on Vredenburg 1, leased to Dunkin’ Donuts, for € 4.1 million including acquisition costs. This property is just around the corner from Drieharingstraat in Utrecht's historic city centre, and comprises over 260 square metres, of which 70 square metres are on the ground floor.
Divestments in the Netherlands and France
Vastned has sold non-strategic properties in the Netherlands and France. These divestments lower the risk profile of the portfolio and increase the focus on core city assets.
In Zwijndrecht Vastned sold its partial ownership of the Walburg shopping centre for € 16.5 million. The properties at Schaapmarktplein 4 in Sneek and Schoutenstraat 6 and 8 in Hilversum were also sold, for a total of € 1.2 million.
In Marseille Vastned sold its property at Rue Saint-Ferréol 29 for € 3.1 million.
Appointment new Investor Relations Manager
As of 1 April, Ronald Beemsterboer is Vastned's new Investor Relations Manager. Ronald joins Vastned from Wolters Kluwer, where he held the position of Investor Relations Associate. At Vastned he will be responsible for communication with investors, analysts and the press.
About Vastned
Vastned is a listed European retail property company (Euronext Amsterdam: VASTN) focusing on venues for premium shopping. Vastned invests in selected cities in Europe with a clear focus on the best retail property in the most popular shopping streets in the bigger cities. Vastned's tenants are strong and leading international and national retail brands. The property portfolio has a size of approximately € 1.6 billion.
