Redevco - Retail Sale - Antwerp, Belgium

Date: 15 May 2008

REDEVCO Belgium has finalised an agreement with the city of Antwerp to purchase a 1,665 sq m (17,922 sq ft) unit at the Meir, Antwerp's main shopping street linking the Town Hall to the main railway station. REDEVCO now owns the entire 12,100 sq m (130,248 sq ft) building in the commercial heart of Antwerp. The property is fully let to the Inno Galeria department store.

The unit, situated on the corner of the Meir and Leystraat, is incorporated in the same building as the prestigious 10,400 sq m (111,948 sq ft) Inno Galeria department store, which REDEVCO acquired in 201 as part of the €1 billion GIB Immo portfolio. The purchase represents a strategic consolidation of the company's holdings and allows an enhanced level of control over part of the Meir.

A programme to renovate this historic building will be launched very soon and will include the complete refurbishment of the store.

REDEVCO also owns an 8,500 sq m (91,496 sq ft) retail unit located at Meir 66, which is fully let to C&A.

The Meir, Antwerp, Belgium