Unibail-Rodamco-Westfield (URW), a leading property giant, has announced its plan to sell Almere Centrum, a high-street retail asset located in the city centre of Almere, Netherlands. The company has reached an agreement with a group of private investors, led by the UMB Group, for a price of €155 million, aligning with the asset’s latest appraisal value. The sale is anticipated to be finalized by the end of July, pending standard closing conditions.
Occupying a total area of 87,000 square meters, Almere Centrum is home to popular retail stores including H&M, Primark, Pull&Bear, Superdry, G-Star Raw, Rituals, Zara, and Pandora. URW’s decision to sell this property is part of its ongoing strategy to focus on its major assets and divest those that are not considered integral to its future plans. Over the past few months, the company has actively sold multiple properties, including Gera Arcaden in Germany, for €116 million.
With a strong emphasis on its Westfield brand, URW aims to convert key properties in Spain, Sweden, and Poland to further expand its presence. The completion of the Almere Centrum sale will contribute €2.7 billion towards URW’s planned €4 billion European disposal programme.
This strategic move is in line with the broader trend in the property sector of streamlining portfolios and optimizing core assets. By divesting non-core properties, URW seeks to enhance its financial flexibility and concentrate resources on key markets and projects with potential for higher returns.
As a prominent player in the global property market, URW holds a diversified portfolio of retail, office, and leisure assets, with a strong presence in Europe. This strategic decision positions the company for future growth and ensures a sustainable and profitable business model.
The sale of Almere Centrum exemplifies URW’s commitment to adapting to changing market dynamics and capitalizing on emerging opportunities. In an evolving retail landscape, companies like URW are reshaping their strategies to meet the changing needs and preferences of consumers.
In conclusion, URW’s decision to sell Almere Centrum in the Netherlands showcases its continuous efforts to optimize its portfolio and prioritize core assets. By achieving this sale, URW moves one step closer to its European disposal programme goals. This move underscores the company’s commitment to enhancing financial flexibility and positioning itself for future growth in a rapidly changing market.
Useful links:
1. Unibail-Rodamco-Westfield official website
2. Westfield official website
