Former Dordrecht department store sold to Reshape Properties
Syntrus Achmea has sold over 18,000 sq. m. of retail property to an entity of Reshape Properties and Beryllus Financial Management. The transaction covers two retail blocks in the centre of Dordrecht, located on Voorstraat, Statenplein and Statenplaats.
Transformation of V&D block
Until 2015, one of these blocks, covering 13,000 sq. m., was home to a department store run by the now defunct V&D chain. The buyers plan to redevelop the building, which has been vacant for four years, by turning it into a residential property with retail and catering units at street level. The other block, of 5,000 sq. m., will fully retain its present retail function. It currently contains several shops, including H&M, ONLY and Blokker.
Revitalising the city centre
Maarten Burggraaf, Executive Councillor for Economic Affairs in Dordrecht, recognises the advantages for the city. “As a municipality, we are pleased with the sale of the V&D block and the new owner’s plans to transform the property. This will fill the void that has adversely impacted the heart of our shopping area for years. The new plans add an extra dimension to the range of food and drink options available on Scheffersplein, while offering continuity in the retail function on the ground floor.”
Piet Sleeking, who is responsible for spatial planning and Dordrecht city centre, adds, “The residential units planned on the upper floors reflect the demand for more housing in city centre locations. These new developments represent a constructive contribution to the revitalisation of the city centre.”
CBRE advised the buyers, Reshape Properties and Beryllus Financial Management, who teamed up to form a joint entity for this purchase. JLL advised the vendor, Syntrus Achmea.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2018 revenue). The company has more than 90,000 employees (excluding affiliates) and serves real estate investors and occupiers through more than 480 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.