Redevco has created what it claims is one of the largest retail warehouse park asset management platforms in Europe with €4.5bn of assets under management.
The platform contains 180 assets, with a total gross lettable area of 2.5m sq m, and combines Redevco’s existing retail park portfolio, which is mainly located in Belgium, and the properties of Germany’s redos, in which Redevco acquired a majority stake last year.
Retail warehouse park sector performed strongly during the pandemic and also offers the potential for mixed-use densification projects according to Redevco, which said the market could also be one of the most sustainable retail real estate sectors due to the “vast possibilities to implement renewable energy solutions and measures, reducing the assets already relatively low carbon intensity”.
Herman Jan Faber, head of business development at Redevco, said: “Redevco’s creation of one of the largest retail warehouse park asset management platforms in Europe, within the most resilient and best performing retail investment market sub-segment, coincides with what appears to be a bounce-back in retail real estate values after years of pressure from e-commerce competition and more recently the Covid pandemic.
“Even more noteworthy is that nearly half of our total €9.7bn in assets under management can be transformed to create positive impact and help make cities more sustainable and liveable. We also have the opportunity to create the core of thriving neighbourhoods in and around our parks, which are usually located in the peripheries of urban areas. Retail-anchored mixed-use developments could, where local planning permits, incorporate affordable and sustainable residential properties, to address Europe’s housing supply crisis, as well as building on other functions such as last-mile logistics.”
