Estadium has acquired ‘De Bossche Boulevard’ at the end of 2010, for UK based Property Fund Rockspring.
During the acquisition of this centre of 50.000 m², it was quite a challenge to integrate and optimize the unattractive and unprofitable rear side of the complex. The most important goal being to improve the attractiveness of ‘De Bossche Boulevard’ and thus increasing the investment value for its owner.
As of January 1st 2011, the first day the complex was the property of its new owner, this challenge has been put to action. In a period of less than 12 months a unique result has been achieved, especially considering the existing mediocre economic situation.
Despite the fact that Rockspring, at first, was not planning for any major redevelopment activities and was just looking for a suitable way to occupy the existing buildings, Estadium has advised them to radically change course and start up new investments at this location.
The advice was simple and powerful. Part of the current site at the back was to be sacrificed, in order to make a new routing possible for the whole shopping centre. The buildings that are to be taken down in 2013, will make room for a whole new building where an anchor tenant is to be situated. In this new plan, it will be possible to walk a full circle around the shopping centre, which will increase its attractiveness for all customers.
The new plan was developed in cooperation with OeverZaaijer Architects, and had as an additional challenge the fact that the current possibilities for loading and unloading for the existing shops should remain intact and also that the number of parking spaces was to be increased.
With this required operation, much additional shopping space was created on the existing site.
At the start of 2012, anchor tenant ‘Media Markt’ already committed itself and signed the contract for this new site. Other shops at the shopping centre have been let new chains like ‘Lucky Leder’ and ‘Q1 sanitair’.
All resulting in a significant lease increase and thus the additional increase in the value of the property. This also considerably enlarges the size of this investment, which originally consisted of over € 45 million. Thus making it the largest individual object in Rockspring’s Dutch portfolio.
Rockspring manages ca. 7,4 billion Euros in real estate investments throughout Europe.