Wereldhave acquires second shopping centre in UK
Wereldhave
17.11.2011 07:41
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Wereldhave has reached agreement to acquire the freehold in Ealing Broadway
Shopping Centre in Ealing, West London. The investment, including all costs,
amounts to EUR 182.2 mln (GBP 155.5 mln) at a net initial yield of 6.5%. The
transaction will be completed mid December 2011. Also this week, Wereldhave has
reached agreement on the sale of the Towers Business Park, Manchester for EUR
55.1 mln (GBP 47 mln), close to book value.
Hans Pars, CEO Wereldhave, said: 'These two transactions are important steps
forward in realising our strategy to create a UK portfolio of mid-sized
shopping centres which are dominant in strong and sizeable catchments. It
brings the share of shopping centres within our UK portfolio to 70%. The
remainder consists primarily of London offices.'
Ealing is a wealthy borough of London situated 13 km (8 miles) west of central
London, with a population of 450,000 persons. The shopping centre's primary and
secondary catchment area amounts to approximately 235,000 persons. The centre
is a compact and attractive shopping environment with stable footfall levels
over the past three years in excess of 15 million visitors per annum.
Constructed in 1984, the centre dominates the retail offer in the town centre
and has frontages to The Broadway and High Street. It is anchored by Tesco,
Primark, Marks & Spencer, H&M, River Island and New Look. Other national
multiples include Argos, Boots, Currys Digital and Costa Coffee. The total
retail space of the Ealing Broadway shopping centre (including Marks & Spencer)
extends to some 35,000 m(2) and 76 shops.
Wereldhave will acquire the main part of the shopping centre, consisting of
28,200 m(2) of retail space with 62 shops, parking facilities for well over 600
cars and offices above the centre. There is potential to increase the
performance of the centre through a number of asset management initiatives.
These include improving the tenant mix by attracting more successful retailers
and improving the restaurant offer.
The acquisition of Ealing Broadway will be explained during a conference call,
to be held today at 09.30 h CET. The conference call can be followed by
audiocast on www.wereldhave.com. Questions can be put by e-mail via this
webcast.
The Hague, 17 November 2011
Board of Management Wereldhave N.V.
For further information:
Wereldhave N.V.
Richard W. Beentjes
Tel: + 31 70 346 93 25
www.wereldhave.com
Click on, or paste the following link into your web browser, to view the associated documents
https://newsclient.omxgroup.com/cds/DisclosureAttachmentServlet?messageAttachmentId=368958
News Source: NASDAQ OMX
17.11.2011 Dissemination of a Corporate News, transmitted by DGAP -
a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
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Language: English
Company: Wereldhave
Netherlands
Phone:
Fax:
E-mail:
Internet:
WKN:
End of Announcement DGAP News-Service
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Wereldhave
17.11.2011 07:41
---------------------------------------------------------------------------
Wereldhave has reached agreement to acquire the freehold in Ealing Broadway
Shopping Centre in Ealing, West London. The investment, including all costs,
amounts to EUR 182.2 mln (GBP 155.5 mln) at a net initial yield of 6.5%. The
transaction will be completed mid December 2011. Also this week, Wereldhave has
reached agreement on the sale of the Towers Business Park, Manchester for EUR
55.1 mln (GBP 47 mln), close to book value.
Hans Pars, CEO Wereldhave, said: 'These two transactions are important steps
forward in realising our strategy to create a UK portfolio of mid-sized
shopping centres which are dominant in strong and sizeable catchments. It
brings the share of shopping centres within our UK portfolio to 70%. The
remainder consists primarily of London offices.'
Ealing is a wealthy borough of London situated 13 km (8 miles) west of central
London, with a population of 450,000 persons. The shopping centre's primary and
secondary catchment area amounts to approximately 235,000 persons. The centre
is a compact and attractive shopping environment with stable footfall levels
over the past three years in excess of 15 million visitors per annum.
Constructed in 1984, the centre dominates the retail offer in the town centre
and has frontages to The Broadway and High Street. It is anchored by Tesco,
Primark, Marks & Spencer, H&M, River Island and New Look. Other national
multiples include Argos, Boots, Currys Digital and Costa Coffee. The total
retail space of the Ealing Broadway shopping centre (including Marks & Spencer)
extends to some 35,000 m(2) and 76 shops.
Wereldhave will acquire the main part of the shopping centre, consisting of
28,200 m(2) of retail space with 62 shops, parking facilities for well over 600
cars and offices above the centre. There is potential to increase the
performance of the centre through a number of asset management initiatives.
These include improving the tenant mix by attracting more successful retailers
and improving the restaurant offer.
The acquisition of Ealing Broadway will be explained during a conference call,
to be held today at 09.30 h CET. The conference call can be followed by
audiocast on www.wereldhave.com. Questions can be put by e-mail via this
webcast.
The Hague, 17 November 2011
Board of Management Wereldhave N.V.
For further information:
Wereldhave N.V.
Richard W. Beentjes
Tel: + 31 70 346 93 25
www.wereldhave.com
Click on, or paste the following link into your web browser, to view the associated documents
https://newsclient.omxgroup.com/cds/DisclosureAttachmentServlet?messageAttachmentId=368958
News Source: NASDAQ OMX
17.11.2011 Dissemination of a Corporate News, transmitted by DGAP -
a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
---------------------------------------------------------------------------
Language: English
Company: Wereldhave
Netherlands
Phone:
Fax:
E-mail:
Internet:
WKN:
End of Announcement DGAP News-Service
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