STRATEGIC MANAGEMENT AGENDA
Wereldhave is specialist owner and operator of dominant urban convenience shopping centres in larger regional cities in the Netherlands, Belgium and France.
Our centres are generally considered to be the dominant centre in their respective trade areas. Being the dominant centre creates natural footfall and competition is controllable. We focus on shopping centres that cover all day to day shopping needs. In order to accommodate this, they generally have a size of between 20,000 m² and 50,000 m², with a catchment area of at least 100,000 people within 10 minutes’ driving time. This makes our centres conveniently close, with ease of access and limited travel time. Our centres must be food anchored, preferably with one hypermarket or two to three supermarkets. This not only adds to the convenience, but food sales have also shown to be most economic robust and internet resilient as online impact on groceries is very limited. Shopping is a social experience. Our tenants mix, events and marketing are tailored to the characteristics of the local environment. Our shopping centres must play a meaningful role for the community they are serving. We aim to allocate 1% of NRI annually to create meaningful local events and position our centres to really become the centre where people go to shop, enjoy and meet. Committed and loyal customers and their stable or increasing footfall will drive value for our tenants and – ultimately – our rental income. As a rule of thumb, 0.5 % of the asset value is needed as annual maintenance capex to keep a shopping centre up to date. We are convinced that by continuously investing in our shopping centres, the retailers will adapt their retail formula to the latest standard. This drives footfall, retail sales, occupancy and rental income. For Wereldhave sustainability means investing time, effort and money in our assets and employees, in order to strengthen the relationship with all stakeholders, including the tenants, visitors of our shopping centres and local communities in the micro-environments in which we operate.
This will lead to more sustainable and profitable returns on capital in the short and long term. Wereldhave wants to combine sustainability and commercial business in an integrated approach, investing in (sustainable) bricks, but at the same time in our employees, partners, and society. This means that our sustainability framework consists of four pillars: Bricks, People, Partners, and Society. All this in the right timing and balance makes it possible for Wereldhave to bring people together!