Vastned creates win/win situation with Schaap & Citroen and Vastned wins EPRA’S ‘Gold Medal Award’
Vastned, the listed European retail property fund focusing on venues for premium shopping, has concluded a 10-year lease with the 125-year old jeweller's Schaap & Citroen for the property it recently acquired on P.C. Hooftstraat 49-51 in Amsterdam.
Schaap & Citroen, which already has shops at P.C. Hooftstraat 40 and on Museumplein (TRAVEL), will open an shop in the new style of the jeweller's chain in the double property. The large surface of the double property will allow Schaap & Citroen to offer a wide range of exclusive watches, jewellery and accessories. Schaap & Citroen will fully refurbish the multibrand flagship store, and will open for business in the spring of 2014.
Schaap & Citroen is a leading jeweller's with nine shops in the Netherlands offering top brands like Patek Philippe, Jaeger-LeCoultre and Rolex.
In addition to the location, opportunities for value creation pay a key role in our acquisition strategy. Due to our good contacts with leading retailers we have been able to act quickly and at the right time to attract this leading jewellery chain shortly after acquiring the property. Schaap & Citroen was looking for a large retail unit on the best part of the upmarket P.C. Hooftstraat and we have been privileged to help them on their growth strategy, which is fully focused on quality, quality and more quality. At the same time, we have created added value for our shareholders by realising a 40% rent increase. In other words, it has been a win-win situation pure and simple for both Vastned and family company Schaap & Citroen!
Vastned's 2012 annual report wins 'gold medal award'
During the EPRA conference in Paris, it was announced today that Vastned has won a 'gold medal award' by the European Public Real Estate Association (EPRA) for its 2012 annual report. This award is given to companies that have best complied with EPRA’s Best Practice Recommendations (BPR) aimed at enhancing the transparency and consistency of financial reporting.
Vastned is een beursgenoteerd Europees winkelvastgoedfonds met focus op 'venues for premium shopping'. Vastned belegt in geselecteerde geografische markten in Europa en Turkije, met een duidelijke focus op het beste winkelvastgoed in de populairste winkelstraten in grotere steden (“high streets”). Vastned bezit daarnaast aantrekkelijke winkelcentra en retail warehouses. Huurders van Vastned zijn sterke, toonaangevende internationale en nationale retailmerken. De vastgoedportefeuille heeft een omvang van ongeveer € 1,8 miljard.