Sale of Batavia Stad Outlet Shopping
On 19 February 2014, ShoppingParks has sold and transferred all of its shares in Batavia Stad Outlet Shopping B.V. (‘BSOS’), the company owning the Batavia Stad Fashion Outlet centre in Lelystad, Netherlands.
ShoppingParks, a Freeland Partners investment product, had acquired the first phase of the first factory outlet centre in the Netherlands from Rodamco more than seven years ago. After that, two extensions, in 2007 and 2009 respectively, have been added to the centre, which extensions have been acquired from and developed by Stable International.
Batavia Stad, with a size of some 26,500 square meters, is currently almost fully leased and comprises 100 shops offering 250 top brands. During the past seven years, the number of visitors (+35%) as well as total sales (+140%) have shown a healthy growth.
Towards the end of 2013, in anticipation to the sale of the shares in BSOS, BSOS acquired – also through a share transaction – from Stable International the rights to the centre’s further extension as a result of which the ownership of the existing scheme and the rights to the extension are combined.
The new shareholder of BSOS is strongly committed to further enhance the success of Batavia Stad Fashion Outlet in the near future in close cooperation with its tenants, the municipality of Lelystad and all other stakeholders and, also, to extend Batavia Stad in phases whilst adding new, interesting and high quality names to its choice of fashion brands in order to increase the attractiveness of Batavia Stad for its clients.
The new shareholder of BSOS has retained the current management team, coordinated and headed by Freeland Partners.
CBRE and Houthoff Buruma acted on behalf of ShoppingParks in this transaction.