The Netherlands

In the Netherlands Wereldhave focuses on shopping centres. The retail portfolio amounts to € 516.4 mln, or 89.8% of the total Dutch portfolio, with shopping centres in Arnhem, Capelle a/d IJssel, Maassluis, Leiderdorp, Eindhoven, Etten-Leur, Purmerend and Roosendaal. All eight centres offer extension possibilities, with major redevelopment works anticipated in the first four centres.

The Dutch economy grew 1.4% in 2011, but entered into a recession in the second half of the year. Consumer prices rose 2.5%, which is an increase on previous years but still lies below the European average. Employment increased while unemployment – which is among the lowest in the Euro zone – declined further.

Throughout 2011 consumers’ purchasing power was under pressure from low wage growth and high inflation. Retail sales volumes declined. Turnovers increased in food stores – albeit slower than inflation. Non-food stores continued to show declining turnovers.

Internet sales gained a 5% market share and are expected to increase. Retailers responded by concentrating outlets on good locations where footfall is consistently high. This results in strong demand and mostly stable rents for the scarce good retail space, while occupancy and rents declined on secondary and solitary spots. Prime shopping centre yields remained stable at 5.5%-6.0%.

In 2011 Wereldhave worked on the overall consumer focus, attractiveness and service level of the shopping centres. In Etten-Leur a successful test was run with free wifi and reading tables in the centre. After the test, Wereldhave decided to provide free wifi in all its other Dutch shopping centres in 2012.

In 2011, Wereldhave Netherlands sold a logistic portfolio consisting of six properties and two Makro’s. The sales are in line with the policy to concentrate on shopping centres.

Wereldhave Management Nederland B.V.
Nassaulaan 23
2514 JT  The Hague
The Netherlands
T:   +31 (0)70 346 93 25
F:   +31 (0)70 363 89 90

H. Vermeeren (Managing Director)
R. Reulink (Director Developments)
C. van Kaam (Director Leasing)

Information Leasing: C. van Kaam (Director Leasing)