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Additional Carrefour Express and regional subsidiary Deutsche Bank added to the growing property portfolio

This afternoon 100% of the shares of Surres bvba were purchased. This real estate company contains a Carrefour Express in Leuven and a regional branch of Deutsche Bank in Sint-Truiden.

This Carrefour Express is ideally and very visible located on the Diestersteenweg 104A in Kessel Lo, on a major approach road and near the Leuven station. The shop is a new building, is 350m² in size and has about ten parking spaces. Kessel-Lo is a wealthy municipality with a high number of single young working. Studies show that this is the ideal target audience for ‘Carrefour Express’ convenience stores.

This acquisition fits in perfectly with the investment strategy of investing only in e-commerce-resistant property. This type of local shop has seen strong growth in recent years and meets the needs of today’s consumers who want to shop qualitatively, price-consciously, close by and efficiently. The ‘Carrefour Express’ shop formula responds to this with its offer of fresh products, late opening hours and Sunday openings.

The real estate portfolio also includes a beautiful new building, at a visible location in the Luikerstraat in Sint-Truiden. This building houses the regional office of Deutsche Bank on 270m². Ulvenhout Retail Invest anticipates that, in time, many smaller bank branches will disappear due to the rapid growth and acceptance of e-banking, but that the regional branches will be strengthened in order to maintain occasional contact with customers. This trend has been underway at various large banks for some time.

As a result of this acquisition, the annual recurring rental income will grow by EUR 108,500 per year.

For more information about Ulvenhout Retail Invest Fund’s investment strategy, click here. If you want to contact us, click here.