This morning the LIDL real estate in De Panne (Zeelaan) was purchased. The renovation project of the new LIDL on the Borrewaterstraat in Merksem was previously acquired.
The LIDL in Zeelaan, De Panne is a shop in the new ‘format’, and has a surface of 1558m². In addition, the shares of Dora 1 Properties NV were acquired. This real estate company comprises the project where the current C&A shop will be converted as from April 2018 into a shop of 1957m², with 44 parking spaces on the first floor. This shop is ideally located on a square, and easily accessible on foot, by bike and by car. It is scheduled to open at the end of 2018.
LIDL is a German chain of supermarkets in the discount segment. The company is active in a large part of Europe, with around 10,000 shops in more than 23 countries. It is one of the fast-growing discounters in Europe and is also expanding rapidly in Belgium.
In addition to the ex-Albert Heijn in Leuven, which is now being converted into a LIDL and will open in the coming weeks, Ulvenhout Retail Invest Fund has 3 LIDL stores in its portfolio as a result of this acquisition. These three stores are set up according to the ‘new format’ principle, where LIDL, as a premium discounter, also offers various fresh and branded products. These acquisitions fit perfectly with the fund’s investment strategy, which focuses on the acquisition of E-commerce resistant real estate.
For more information about these acquisitions, or about Ulvenhout Retail Invest Fund, please contact us here.