Private investors acquire Groningen retail portfolio from DELA Vastgoed

A partnership between Groningen private investors, including Lammert Tel and Bas Schrage, and Twente investment group DGL Investments has purchased a retail portfolio from DELA Vastgoed in the city centre of Groningen.

The portfolio consists of several retail properties, all located at A1 locations in Groningen, including Herestraat and Vismarkt. The tenants of these retail spaces include Schoonenberg, Swarovski, Levi’s, Flying Tiger and KIKO Milano. The transaction is part of a wider sales programme by DELA Vastgoed.

Lodewijk Buijs, Senior Director of Capital Markets Retail at CBRE, commented: ‘The leading retail cities of the Netherlands are being particularly hard hit by Covid-19, especially since the latest round of restrictions. But after the lockdown, we think that visitors will return to these city centres, including Groningen. Shopping will remain one of the most popular forms of recreation. But this does not alter the fact that both visitors and retailers will need to modernise and adapt to the new conditions on the market.’

Retail Capital advised the buyers on the purchase of the portfolio. The vendor received commercial advice for this transaction from CBRE, with legal advice from Houthoff.