News Primark extends its reach across with new distribution hub Fashion retailer signs for 900,000 sq ft centre in Roosendaal, seen as the best location in the

BY RICHARD WILLIAMS

Fashion retailer Primark has pre-let a 900,000 sq ft distribution centre in Roosendaal, the Netherlands, as part of its ongoing store expansion programme in northern Europe. The discounter has agreed a deal with Logistics Capital Partners to take the space at the 40-acre site in the Borchwerf Business Park. It has signed a 10-year lease with the pan-European logistics developer and asset manager, which will develop the scheme in two phases. It has started on site with the construction of the rst phase, a 600,000 sq ft unit, which will complete in mid-2016. A 300,000 sq ft building will be delivered as part of the second phase of construction. The facility will serve as an integral Hanging around: the new building will have extra racking systems hub for Primark and will service its THINKRETAIL/FLICKR expanding network of northern European stores. facility” to match the needs of modern a rack system for hanging garments. an Asian sovereign wealth fund. The site is located in one of Europe’s global retailers. Due to extra building height, being 16m The JV has €1bn (£740m) of capital prime logistics hubs, between Rotterdam “The height, size and design mark below eaves, there is also 40% extra to invest in German logistics and its deal and Antwerp, and is ranked as the best this building as truly exceptional,” he stocking capacity per square metre.” with Logistics Capital Partners will see distribution location in the Netherlands. added. “The market generally still fails Logistics Capital Partners acquired it expand the venture outside . Logistics Capital Partners’ managing to meet the needs of today’s global the land from the local municipality Wolfgang Dietz, chief executive of director Kristof Verstraeten said the retailers. For example, above the loading and the development of the distribution Dietz, said: “We now have a framework design of the building would deliver a and unloading zone, a three- oored centre will be funded by German-based agreement in place that can be rolled “new breed of large-scale sophisticated mezzanine will be constructed with Dietz AG, in a joint venture (JV) with out to opportunities in other countries.”

West End buys for Bestseller Triple Five keeps the American Dream alive A Danish dynasty is M&G considered a property Canadian shopping centre close to purchasing a major swap for the assets, but the developer Triple Five has redevelopment opportunity Bestseller deal is understood signed a deal with US retailer near London’s Oxford Street, to be an outright sale. Hudson’s Bay Company to PropertyWeek.com revealed Bestseller already owns 309 open three agship stores in this week. Oxford Street, which it bought the American Dream retail Bestseller, which is owned for around £100m in 2013, as complex in New Jersey. by the billionaire Holch well as the building next door, A 131,906 sq ft Saks Fifth Povlsen family, is under o er from which River Island trades. Avenue store, a 119,605 sq to buy a number of buildings The family-owned retailer ft Lord & Taylor store and between Hanover Square was founded in 1975 by Merete a 30,000 sq ft Saks Fifth and dining destination,” as Banana Republic, Gap, and Oxford Street for around Bech and Troels Holch Povlsen Avenue O Fifth will open Don Ghermezian, president MAC, Microsoft, Pink, Uniqlo, £170m from M&G Real Estate. and owns several European in 2017 when the complex is of Triple Five, said in a Victoria’s Secret and . The buildings at 18 Harewood high-street brands, including completed, a decade after it statement. The company took American Dream New Place, 14-15 Hanover Square Jack & Jones and Vero Moda. was  rst started. over the development in 2011. Jersey will house around 3m and 293-297 Oxford Street Harper Dennis Hobbs “This is just the beginning Triple Five has recently sq ft of retail, restaurants were put up for sale as a major advised Bestseller. CBRE of the promise we made to announced that the complex and entertainment, and is redevelopment opportunity in advised M&G. All parties build the world’s greatest will also be home to an 8,000 expected to welcome 40 August via CBRE. declined to comment. shopping, entertainment sq ft Hermès store, as well million visitors annually.

10 2 OCTOBER 2015 PROPERTY WEEK INTERNATIONAL