Nextensa announces successful sale of Brixton Retail Park in Zaventem, Belgium
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NON-REGULATED INFORMATION
Brussels, 16 December 2024, 5:40 PM
Nextensa announces successful sale of Brixton Retail Park in Zaventem, Belgium
Nextensa announces that its Brixton Retail Park in Zaventem, Belgium has been successfully sold to a group of private investors for a net price of around €41 million. The retail park's individual properties were sold last Friday to private investors, who each bought one or more units. Avenue acted as broker in this and managed the transaction.
The Brixton Retail Park, with a total area of 15,072 sqm, has been part of Nextensa's property portfolio since its IPO in 1999. The park has proven to be a highly successful investment during that period. Rents are among the highest in the commercial rental sector, and the park has consistently enjoyed full occupancy with quality tenants over the past 25 years.
Strategically located near the E40, one of the main access roads to Brussels, the retail park comprises seven shops: Brico, Kwantum, Leen Bakker, Juntoo, De Matrassenkoning, X2O and Swiss Sense. In addition, the park has a private car park with its own charging infrastructure, including 16 Tesla Superchargers. Tenants also benefit from green electricity generated by the solar panel installations on the building's roof.
This divestment is perfectly in line with Nextensa's strategy to focus on sustainable mixed-use projects in urban environments while further reducing its debt ratio. With this transaction, Nextensa shows that its portfolio allows for smooth asset rotation, creating space for new opportunities.
"The sale of Brixton Retail Park is a historic moment for Nextensa. With this transaction, we are parting ways with our last retail property in Belgium. This allows us to further sharpen our focus on growth segments such as mixed-use urban office developments and residential projects with a focus on sustainability", says Michel Van Geyte, CEO of Nextensa.
For more information
Tim Rens | Chief Financial Officer
Nextensa NV/SA | 0436.323.915 (RLE Brussels, Dutch-speaking division)
Gare Maritime, Picardstraat 11, B505, 1000 Brussels
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About Nextensa
Nextensa is a mixed property investor and developer.
The company’s investment portfolio is divided between the Grand Duchy of Luxembourg (43%), Belgium (42%) and Austria (15%); its total value as at 30/09/2024 was approximately € 1.3 billion.
As a developer, Nextensa is primarily active in shaping large urban developments. At Tour & Taxis (development of over 350,000 sqm) in Brussels, Nextensa is building a mixed real estate portfolio consisting of a revaluation of iconic buildings and new constructions. In Luxembourg (Cloche d’Or), it is working in partnership on a major urban extension of more than 400,000 sqm consisting of offices, retail and residential buildings.
The company is listed on Euronext Brussels and has a market capitalisation of €442 M (value 30/09/2024).
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