a.s.r. real estate

Hudson's Bay Company reached three lease agreements with a.s.r. real estate investment management

Hudson's Bay Company reached three lease agreements with a.s.r. real estate investment management

Hudson's Bay Company (HBC) annouced today that it has finalized leases for seven new store locations in the Netherlands, including three lease agreements with a.s.r. real estate investment management for Utrechtsestraat 25-37 in Amersfoort, Grote Houtstraat 70 in Haarlem and Aalmarkt 22 in Leiden. 

Richard Baker, Governor and Executive Chairman of HBC, stated:
"We are very excited to annouce these new locations in prime markets in the Netherlands for our Hudson's Bay banner. The speed with which the leases are being agreed upon underscores the mutual willingness of the landlords, municipalities and HBC team to open the first stores, which we expect to occur in Q3 of 2017. In addition to bringing our exciting retail experiences to the Dutch customers, our entry will also create 2,500 store jobs and 2,500 construction jobs in the market. We look forward to announcing additional stores as we secure new locations."

Edwin van de Woestijne of a.s.r. real estate investement management: "We are delighted with this innovative player in the Dutch retail market and we are looking forward to working together to improve the shopping landscape of Amersfoort, Haarlem and Leiden. Hudson's Bay's decision to enter a long-term commitment with a.s.r. demonstrates that our properties are in the right locations and that we are a strong retail partner."

Amersfoort has an attractive historic center with a vast variety of shops. Built in 1934, the building has spectacular glass work in the ceiling and an impressive staircase, with entrances from the Utrechtsestraat and the Sint Jorisplein. It is located on the prime shoppingstreet in Amersfoort. The Sint Jorisplein is an important access point with a parking garage of around 460 spaces. The building will be fully renovated before Hudson's Bay opens its 11,000 m2 (118,000 sq.ft.) store for the people in Amersfoort and surroundings.

Haarlem is a well-known shopping and residential destination adjacent to Amsterdam, with a young and vibrant bar and restaurant scene. The historic department store of approximately 17,000 m2 (183,000 sq.ft.) is centrally located on the Grote Houtstraat, close to Gedempte Oude Gracht and the Gierstraat. The building will be renovated and transformed into a modern and attractive Hudson's Bay. 

This monumental 12,500 m2 (135,000 sq.ft.) department store, located in the city center between the Aalmarkt street and the Breestraat, was built in 1930 and was completely renovated in 2014. Hudson's Bay is an ideal anchor tenant to elevate the retail mix of the area. The basement includes a bike storage for 880 bicycles and can be used free of charge by the people of Leiden. The adjacent retail project Catharinasteeg will be completed in 2017. 

Jerry Storch, HBC's Chief Executive Officer, commented: "Combining exciting retail destinations with a best in class ecommerce platform is our main focus as we expand into the Netherlands. Our all-chanel model will allow our customers to shop whenever, wherever and however they want. This, in combination with overall operational efficiencies and implementing best practices from our existing banners, will deliver a new exciting experience for Dutch consumers. We are also making good progress on establishing our management structure and have already hired a number of very experienced Dutch executives into senior management positions."