This afternoon the real estate of the ‘Tanger Markt’ and ‘Domino’s Pizza’ in Kiel (Antwerp) was acquired.
Tanger Markt’ is an expansive Dutch supermarket chain that now has 14 shops in the Netherlands and Belgium. Tanger Markt’ took over, amongst others, this shop in Kiel (Antwerp) from Albert Heijn. As a result of the merger with Delhaize, Albert Heijn had to sell a number of shops because of the competition authorities. Earlier, URIF bought the real estate of the Albert Heijn in Leuven, now leased to Lidl, and the real estate of the Delhaize shops in Berendrecht and Ledeberg, acquired by Carrefour Belgium.
Tangier Market is a supermarket which presents itself as the supermarket for ethnic products and localises in districts with relatively large populations of ethnic background. This type of niche shops is extremely e-commerce resistant and therefore fits well with the investment strategy of Ulvenhout Retail Invest Fund. This supermarket is 1000m² in size and is located in a new development project.
In addition, the real estate of a branch of ‘Domino’s Pizza’ in the same project was purchased. The property is 250m², and houses a restaurant and the kitchen for the online pizza deliveries in the area. Domino’s Pizza is the largest Pizza franchisor in the world and has 13 800 branches, 50 of which are in Belgium. Domino’s Pizza has a highly developed online ordering channel via www.dominos.be or via the Domino’s app. In addition, Domino’s has its own efficient home delivery logistics. The lease was concluded directly with Domino’s Pizza Belgium.
Both purchased properties are highly visible corner buildings and are located directly opposite the shopping centre ‘den Tir’, and close to an important tram stop on the line to Antwerp-Centre. This transaction increases URIF’s recurring annual rental income by approximately EUR 160,000 and brings the total investment portfolio to approximately EUR 150 million. The share of supermarket real estate now amounts to 53% of the total rental income. With this transaction, Ulvenhout Retail Invest Fund once again strengthens its leading position in the rental of neighbourhood supermarkets in Belgium.
For more information about this transaction or about URIF, contact us here.