Geneva, January 9th 2020
AB European Real Estate Fund has recently signed a new lease with its historic tenant Rietveld Onroerend Goed BV for a 33,118 sqm warehouse located in Oosterhout, the Netherlands. The property was let 100% until December 31, 2019 and a lease extension has been agreed on a 7-year basis (until December 31, 2026) on the existing rental conditions combined with a renovation and comprehensive maintenance program of the property. The maintenance program includes renovation of the roof, new electrical overhead doors and LED lightning.
AB Euoprean Real Estate Fund is proud to maintain a solid relationship with its tenant Rietveld, which is a family-owned company providing transport and logistics services to Lidl (German global discount supermarket chain). Rietveld uses the premises to store non-perishable products before distributing them in Lidl’s stores all over The Netherlands.
Together with the new lease extension, the comprehensive renovation program will significantly increase the value of the property, which benefits from a strategic location in relation to the ports of Rotterdam and Antwerp with a direct water link, as well as to the European hinterland with access to 3 major motorways.