On behalf of an investor client, Redevco has acquired a 5,540 m2 retail unit from Investore for 鈧�28.5 mln, with a plan to redevelop the property.
'The size of the building suits the strong demand from fashion retailers looking for large-scale units in Rotterdam. Neighbouring retail properties are currently under development and we strongly believe these works add to the over-all attractiveness of the location,' commented Andrew Vaughan, CEO of Redevco.
The former Donner building is located centrally in Rotterdam鈥檚 prime retail pitch, opposite H&M and Zara stores at Lijnbaan 150. Next door, Multi's Forum Rotterdam is taking shape including the largest Primark in Europe, due to open its doors 2018.
Rotterdam is the second largest city in the Netherlands with approximately 625,000 inhabitants. The city currently offers a total retail floor area of approximately 723,860 m2.
Redevco was supported by legal and technical advisers DLA Piper and Fortrus. Investore was advised by Houthoff Buruma.
