Wereldhave welcomes De KOOPman in former Hudson’s Bay property; Management Board cuts base salary

Press release
6 May 2020, 12:00 AM CEST

Wereldhave N.V. announces today it has signed a lease with De KOOPman for the former Hudson’s Bay property in Tilburg and its Management Board will reduce their base salary by 15% for a period of three months.

De KOOPman to enter former Hudson’s Bay property
Wereldhave signed a lease with De KOOPman concept store in the inner-city of Tilburg to be located in the property formerly occupied by Hudson’s Bay. De KOOPman is a new and aspirational formula from The Sting Companies focusing on ‘the latest fashion at low prices’ with brands like Sutherland, April Evil and Bella Ragazza.

De KOOPman leases the whole former 13,170 m2 department store on a temporary basis with a minimal period of twelve months. Signing this lease is a major step forward for the redevelopment of the inner-city of Tilburg, which is one of Wereldhave’s key committed developments. The opening of the store is expected in June 2020. Wereldhave will continue to investigate transformation plans for some parts of this location into alternative uses. The newly redeveloped top-spot location is the eye-catcher of Tilburg inner-city, with entrances to the Heuvelstraat and Pieter Vreedeplein. It strengthens the city-center of Tilburg as a shopping destination, which will be further enhanced by the development of the Frederikstraat Zuid.

Wereldhave considers this an important strategic step in the redevelopment of the inner-city of Tilburg: “We are delighted with this new partnership with The Sting Companies and have confidence in the new concept of De KOOPman. It is a strong addition to the fashion offer in the inner-city of Tilburg and connects seamlessly to the needs of our target groups. The choice of The Sting Companies for a second formula in Tilburg proves the strength of the city as shopping destination,” says Doris Slegtenhorst, Business Unit Manager Wereldhave Nederland.

Management cuts base salary due to COVID-19
Due to the COVID-19 pandemic, the statutory Management Board of Wereldhave has decided to further align themselves with its shareholders and tenants and therefore taken the initiative to lower their salaries by 15% for a period of three months. Furthermore, the Management Board now has in total 87,259 shares vested and unvested to underwrite their confidence in the strategic direction of the Company.

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