Quares purchases Century Center shopping mall in Antwerp

Real estate specialist Quares announces that, in partnership with a private investor, it has taken into its portfolio the Century Center (12,000 m2) and the 219 associated parking spaces, located on Antwerp's Keyserlei.  DTZ acted as broker. The Century Center is a covered shopping mall, strategically located near the bustling Antwerp Central Station and the Meir. The mall’s 33 tenants include leading brands Kipling, Media Markt, Blokker, McDonald's, Sailor, Standard Boekhandel and Bart Smit.

Major development potential
For Quares this acquisition is an attractive addition to its portfolio with a strong upside value potential, especially with the under-tunnelling of the Frankrijklei in 2014 and the recent complete reconstruction of the Keyserlei with wide sidewalks and heated terraces offering a mix of shops and restaurants. The Keyserlei is one of Antwerp's busiest shopping thoroughfares with more than 160,000 persons passing through each week.

Inner city retail property is on the up
For Quares partner Anneleen Desmyter, this acquisition is a very important step for Quares: "It is our largest acquisition to date, which we are financing with a combination of a bond issue and bank debt.  Commercial real estate has become increasingly attractive in recent years among institutional and private investors. Retail has outperformed other real estate products in Belgium in terms of volume with more than € 600 million invested in 2012, including 158 million in high street city retail. Demand for quality investments in city shopping and high street city retail property remains high and offers an interesting opportunity for investors and tenants. Kipling, for example, recently opened its new concept store in the Century Center in Antwerp, and Versato Jewels is planning a totally new outlet in the Centre at the end of 2013."  This process is also confirmed by Thomas Willekens, senior negotiator at DTZ, which with this sale completed one of the largest retail transactions on the Antwerp market in the first half of 2013.  "This strategic acquisition confirms the upward trend which has been visible in the Antwerp station area for some time already, and will no doubt have a positive impact on the further development of retailing in the city."

Synergy at Quares
Anneleen Desmyter: "Quares will be managing the complex and also offering its SpotOn formula to its tenants. From experience Quares has found that the retail sector has a need for management sustainability and optimization. To implement this process right from the beginning (from the concept phase) Quares has developed the SpotOn project together with Concrete, an all-round design consultancy."

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About Quares
Quares stands for Quality Real Estate Services. Quares is a real estate specialist operating in Belgium, the Netherlands, Luxembourg, Germany and France. The company’s primary objective is to maximize the return on real estate for private clients, business partners and investors.
In Belgium, Quares works from the perspective of four core competencies to achieve that objective: “Living”, “Management”, “Investment” and “Innovation”.

About DTZ
DTZ, a UGL company, is a global leader in property services. We provide occupiers and investors around the world with industry leading, end-to-end property solutions comprised of leasing agency and brokerage, integrated property and facilities management, capital markets, investment and asset management, valuation, building consultancy and project management. In addition, our award winning research and consulting services provide our clients with global and local market knowledge, forecasting and trend analysis to make the best long-term decisions for their continuous success far into the future. DTZ has 47,000 employees including sub-contractors, operating across 208 offices in 52 countries.

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