This morning, the deed was executed for the purchase of a new building, leased to the operating company M.K.M. under the brand Hubo. This store was successfully opened a few weeks ago.
The property is located at Steenweg 87 in Herk-de-Stad and has an interior surface of 1933 m². In addition, there is a covered outdoor storage area of 469 m², with 70 parking spaces. The commercial lease was concluded for 27 years, until 2047, and adds approximately EUR 200,000 per year to Forum Estates’ annual rental collection, which now amounts to more than EUR 19 million per year.
In addition to supermarkets, Forum Estates also invests in properties rented out to do-it-yourself stores. Forum Estates now has six Hubo branches in the real estate portfolio, as well as a number of long-term commercial leases with Gamma, Brico and Mr. Bricolage.
CEO Stefan De Bock is satisfied with this deal: “This is a nice end to an eventful but very good year for us. After the purchase of ten supermarkets and some strategic divestments, we now have an additional do-it-yourself store. We are very much in favour of the do-it-yourself sector, as it has shown over the past year that it is not only e-commerce but also particularly pandemic-resistant.”
18 December 2020