Wereldhave’s French retail portfolio consists in six shopping centres. Two of the centres are located in Rouen. The other centres are in Le Havre, Bordeaux, Strasbourg and Argenteuil (Greater Paris). The centres are relatively new with modest capital expenditure requirements for the coming years. Three of the centres are inner city centres with an important role within the local community. The other centres have a leisure and experience angle, with large cinemas, restaurants and a broad fashion offer. The average size of the centres is just under 40,000 m² GLA and footfall is at an average of 6.8m visitors per year.
All centres have a high penetration rate within their catchment area. This is the percentage of the population that visits the centre at least once a month. The catchment areas are very sizeable and their spending power is above the French national average. Sales and footfall of the centres have outperformed the French CNCC index over the previous years. This index consists in the 100 largest shopping centres in France and also includes superregional malls.
The centres house the main fashion brands, have strong hypermarkets and offer a broad range of entertainment and leisure. Docks 76 in Rouen is the only centre of the portfolio that does not have a hypermarket. The tenant base is well spread with limited maturities for the next three years. The top 10 tenants represent approx. 25% of rental income.