Vabeld has acquired its second property on the prestigious De Keyserlei in Antwerp. It concerns a property on the corner with the Van Ertbornstrat consisting of three commercial floors and nine fully furnished apartments on 5 upper floors. The property was bought from the owner occupier CocoMat. Negotiations for reletting the commercial areas are in full swing.

For De Keyserlei 43, a property acquired last summer, Vabeld recently received the building permit for a very thorough renovation. A lease was signed for the ground floor area with Paul bakeries and 6 apartments will be developed on 4 upper floors.

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In addition to the purchase of a few prime locations, Vabeld sold a number of properties in 2016.

Among some smaller sales, these include two units in Nivelles, let to Orchestra and Shoe Discount, three units in Libramont, let to Shoe Discount, Eldi and Home Market and a city center shop in Maasmechelen, let to Ici Paris XL.

These sales are part of an exercise in which some non strategic assets are being sold whilst the acquisition strategy is increasingly focused on some predefined and prime locations with future potential.

Although in light of Brexit, Vabeld has reviewed its rapid growth strategy resulting in the cancellation of some transactions that were being pursued, Vabeld remains committed to the UK for the long term and has now completed on its fourth acquisition on Church Street.

The property is let to H. Samuel but subleased to Kurt Geiger until 2022 and its location on the corner with Tarleton Street makes it a 100% prime unit.

The Vendor was Legal & General. Vabeld was advised by Mason Owen.