This afternoon the real estate of the Carrefour Hyper, Lunch Garden and Quick in Waregem (Sint-Eloois-Vijve) was acquired. With this acquisition, Ulvenhout Retail Invest Fund once again strengthens its E-commerce resistant portfolio with three strong brands.
These brands fit particularly well with the ‘Food’ and ‘Leisure’ pillars of the fund’s E-commerce resistant investment strategy. The strategic location of this retail park, the wealthy population in the area and the strong brands, with a number of major pullers such as Carrefour, Brico, C&A, Quick and Lunchgarden, generate a large number of daily visitors.
URIF bought the property (10,000m²) of the Carrefour Hyper, with indoor shops (Tui, Leonidas, …), the Lunch Garden and the land on which the Quick has built its building on a long lease.
With this transaction, Ulvenhout Retail Invest Fund strengthens its position as an investor in supermarket real estate. The ‘Quick’ and ‘Lunch Garden’ brands reinforce the strategic investment pillar ‘Leisure’. The leases are each concluded with the parent company and generate an additional annual rental income of approximately EUR 700,000.
Meanwhile, Carrefour Belgium is working hard and successfully to give the hypermarkets a new impetus. It mainly focuses on this by putting the customer and its experience first. Boutiques within the hypermarket, fresh fish and sushi stands, a cosy corner with books and an extensive catering department help to facilitate the customer experience. For the hasty consumer, there is an E-drive where goods ordered via the internet can be picked up. Today’s consumer is also eating out more and more. Quick and Lunch Garden are responding to this and have set a strong growth path in recent years.
This transaction was supervised by Cushman & Wakefield and financed by ING.
For more information about this acquisition, or investing in Ulvenhout Retail Invest Fund, contact us here.