Wereldhave Belgium acquires full ownership of shopping centre Kortrijk ring in Belgium

Wereldhave Belgium has signed a purchase agreement for the acquisition of the leasehold of 22.000 m² of shopping centre Kortrijk Ring in Kortrijk, Belgium, to become the single owner of the centre. On August 22, 2014, Wereldhave already acquired 11.000 m² of the shopping centre from Redevco. The latest transaction brings the total acquisition price for the entire centre to € 108.1 m, including transaction costs, reflecting a net initial yield of 6.1 %.

Kortrijk Ring is a regionally dominant shopping centre in the south west of Belgium, near the French border. It is located at the ring road of Kortrijk and has excellent parking facilities for more than 2,000 cars. Kortrijk Ring is an established centre, dating from 1973. The centre underwent several renovations and refurbishments; it is a modern and up- to-date shopping centre.

For full press release, download the pdf below.

Press Release: Kortrijk Ring Belgium