Vabeld acquires 5 city center units in Western Flanders.
Vabeld bought 5 properties in 5 separate transactions in the northern part of Western Flanders.
In Ostend, 2 adjacent stores in the Vlaanderenstraat were purchased. We will seek to change the use of at least one unit to leisure ( horeca).
In Bruges, 2 smaller assets were purchased on or in the immediate vicinity of the Markt, one retail and one leisure.
Finally, in Knokke, an agreement was signed for the acquisition of a restaurant near the casino.
It shows that Vabeld is still actively expanding its holdings in high footfall locations that have potential both for retail and leisure.
New high street lettings in Flanders
Vabeld is proud to announce that it concluded 2 new leases starting August 1st.
In Bruges, the former H&M unit in the Zuidzandstraat is leased to the Dutch chain and new market entrant called SoLow. This store is a big unit of 854M2 of ground floor space as well as a commercially usable basement.
In Lommel, a local fashion retailer with several existing stores is the new tenant of the former Esprit / Takko corner unit in the Kerkstraat.
In Gravesend, Vabeld UK has now completed the redevelopment of the former BHS store on New Road, which closed in 2016.
After having already refit the basement and most of the ground floor to house the DWP and Pure Gym, the remainder of the property has been relet to restaurant operator GDK and leisure operator Panic Room. Both are expected to open their doors for the public over the summer.
Vabeld UK was advised by Coplan Estates for the redeveloment and Wrather Property for reletting.
Brussels hotel opening
It is with great pleasure that we can announce that the largest hotel in our portfolio has opened its doors on May 1st, after a very thorough renovation over the past several years.
The brand new Holiday Inn Express hotel at the ‘Place du Samedi’, near De Brouckère square, now has 114 hotel room with 15 underground parking spots and ancillary accommodation.
This is the only Holiday Inn Express in the capital. The property is on a long leasehold to the Borealis Hotel Group.
We would like to hear from you. Feel free to contact us.
In light of our continuous growth, your retail asset(s), whether located in Belgium or elsewhere might be of interest to us. Are you considering selling commercial real estate or do you know someone who wishes to do so, do not hesitate to contact us, with no obligation on your part. We do not act as a broker and discretion can be guaranteed. If you are interested in one of our properties for sale or for rent, do not hesitate to phone or e-mail us.