Savills Investment Management (“Savills IM”) has sold a prime retail property in the centre of Almere, the Netherlands, to Bouwinvest Dutch Institutional Retail Fund. The fully let asset was sold on behalf of the international real estate investment manager’s European Fund V – Retail.
The 4,600 sqm building is located on Stationsstraat, a prime pedestrian high street in Almere’s shopping area. The asset comprises three units with long-standing international retail tenants – C&A, JD Sports, and Courir – and benefits from strong sustainability credentials, including EPC A+++ and BREEAM In-Use ‘Good’ certifications.
Originally constructed in 1988, the property underwent a large-scale renovation in 2016 before its acquisition by European Fund V – Retail in 2018. During the hold period, Savills IM – which manages €25.5bn of assets in Europe and APAC – executed an active asset management programme, delivering an additional unit, securing several lease renewals, and enhancing the building’s sustainability profile.
Savills IM’s European Fund V – Retail holds a diversified portfolio of high street, retail park, and shopping centre assets in strong, well-connected locations across Europe, targeting properties with resilient income profiles and strong tenant covenants. The fund forms part of Savills IM’s wider €4.9bn AUM retail portfolio, which includes over 380 assets across 12 countries through various funds and mandates.
Edgar Hertog, Co-Head of Netherlands at Savills IM said: “This disposal highlights continued strong demand for high quality retail assets in key European markets. Our hands on asset management approach, combined with our excellent local market expertise and network, enables us to unlock value and deliver attractive outcomes for our clients.”
Ian Jones, Fund Director at Savills IM said: “Our careful and disciplined approach to asset selection has enabled us to achieve liquidity and deliver a successful exit for our institutional capital partners.”