Deka Immobilien has sold the retail park Plein Westermaat in Hengelo, Netherlands, to Corum Asset Management (Corum Eurion SCPI) for EUR 46 million. The property is part of our open-ended Deka-ImmobilienGlobal fund portfolio and comprises a lettable area of 25,442 sqm along with 400 parking spaces.
The retail park, completed in 2002/2004 and consisting of two buildings, is distinguished by its prime location directly on the A1 motorway, a well-balanced tenant mix, and a historically proven occupancy rate of 100%. Anchor tenants such as MediaMarkt, Praxis, Intersport, and Bever establish Plein Westermaat as one of the best-performing retail parks in the Netherlands. MediaMarkt recently extended its lease for another five years, underscoring the property’s attractiveness.
Located in the eastern province of Overijssel, Hengelo is part of the Twente region, which enjoys strong cross-border appeal. Over 75% of visitors come from the surrounding areas, including neighboring Germany, making the retail park a dominant commercial destination in the region.
After 20 years of successful ownership, Deka Immobilien is continuing the strategic portfolio streamlining of the Deka-ImmobilienGlobal fund, creating opportunities for new, strategy-aligned investments. During its holding period, the property delivered stable cash flows and made a valuable contribution to the fund’s performance.
