Real estate enterprise VastNed has invested 30 million in Ghent and Lyon, focused on premium shopping locations for which the enterprise grew the amount of possible locations.
44 million euro portfolio
VastNed bought a 1,875 sqm 2-floor location in the Veldstraat for 27.7 million euro. Currently, the space is rented by Swedish H&M. VastNed has other real estate in Ghent, renting to G-Star RAW and Sportsdirect.com. In total, VastNed owns 44 million euro in locations in Ghent.
In Lyon, the company purchased a 165 sqm location in the Rue Edouard-Herriot for 2.6 million euro and the location is currently occupied by French fashion retailer Sandro.
"I'm extremely satisfied we were able to buy these two high street locations, as they fit our strategy to focus on premium city growth, like Lyon. Ghent is one of the three largest shopping cities in Belgium and Lyon is one of France's largest cities. Both cities have an excellent historic city center, attracting tourists all year long", Taco de Groot (VastNed CEO) said.