The real estate of the Carrefour Express on Florent Pauwelslei in Deurne was purchased today. Earlier this month, the real estate of the Carrefour Express in Jette was also acquired through a contribution in shares of URIF.
The Carrefour Express in Antwerp (Deurne) is located at Florent Pauwelslei 4, on a busy access road near an important tram stop at the AZ Monica hospital. This store is 791 m² in size, located on a corner, and has its own parking and goods unloading area. This Express is now the seventh Carrefour Express in the Antwerp region of the investment fund. The Carrefour Express in Jette (photo) is a corner building, very visibly located at Charles Woestelaan 130-132 in a busy residential area, near a tram stop. The store is 225 m² in size. These two acquisitions increase the annual rent collection by EUR 120 000.
Both properties are leased to Carrefour Belgium under a long-term commercial lease. These acquisitions are fully in line with Ulvenhout Retail Invest Fund’s investment strategy, which only invests in E-commerce resistant real estate. This type of neighbourhood stores has experienced strong growth in recent years and meets the needs of today’s consumers who want to be able to shop qualitatively, price-consciously, in the neighbourhood and efficiently. The ‘Carrefour Express’ store formula responds to this with its range of fresh products, late opening hours and Sunday openings. Moreover, this type of store as a ‘convenience store’ is one of the spearheads in the growth strategy of Carrefour Belgium in the coming years.
Ulvenhout Retail Invest Fund now has 35 Carrefour local shops in its portfolio and thus strengthens its leading position as a real estate investor for local shops in Belgium. The current portfolio value now amounts to approximately EUR 150 million, and generates approximately EUR 9 million in recurring rental income.
For more information about the investment fund or about this transaction, please contact us here.