a.s.r. real estate acquires and lets Demer 6 in Eindhoven

a.s.r. real estate has acquired the Demer 6 high-street property in Eindhoven on behalf of the ASR Dutch Prime Retail Fund. Immediately after completing the purchase, a.s.r. real estate let the property, which had remained vacant since last spring, to the international retailer Calzedonia.

The distinctive property is located at the start of the Demer, the premier shopping street in Eindhoven city centre. The strength of the Demer is reflected in its high occupancy rate, the diversity of stores and the enthusiasm of national and international retailers to secure a location there. The building has a total area of over 300 m², including around 120 m² of ground floor retail space.

Edwin van de Woestijne, fund director of the ASR Dutch Prime Retail Fund, said: “We are delighted to be able to add this high-street property, situated in a very future-proof retail location in Eindhoven, to our portfolio. The signing of the lease with the international retailer Calzedonia immediately after the completion of the purchase bears out the quality and location of this building in Eindhoven.”

Calzedonia intends to open an Intimissimi store in the property. Intimissimi specialises in ladies’ lingerie, underwear and nightwear and has around 1,550 stores across 48 countries. The store is scheduled to open before the end of this year.

City Real Estate advised on the sale and letting of the property. Kroese Paternotte acted on behalf of the tenant Calzedonia.