Syntrus Achmea Real Estate & Finance (hereinafter Achmea) leased at the Lijnbaan 102 in Rotterdam approximately 1,000 sq.m lfa of retail space to Bart Smit Management BV (hereinafter Bart Smit). Bart Smit had a section of the retail space subleased to Claire's Netherlands BV.
After a detailed study of the object Cushman & Wakefield discovered that there was an opportunity to maximize the rental income from the property by buying out the current tenants to merge both stores again. Through this buyout and merging there was a store of approximately 1,000 sqm. The lack of shops of such a surface made sure there was great interest for the object which eventually led to the lease of the property to a very appealing international party like Hollister.
Cushman & Wakefield has:
- Informed Achmea about the possibilities for optimisation of the rental income;
- Set out the strategy to buyout current tenants and rent for new tenants;
- Made an inventory of potential tenants;
- Approached potential tenants;
- Started and successfully brought to an end negotiations for the purpose of termination of current leases;
- Accompanied owner by negotiation with potential tenants.
- Maximisation of rent;
- Optimisation of the investment value of the object;
- Realisation of a flagship store for one of the most appealing tenants currently on a, for owner, very important strategic location;
- The process is completed in approximately six months, a very short time for a project of such magnitude.