Ascencio strenghtens its presence in its "Bellefleur" retail park in Belgium

    Ascencio strenghtens its presence in its "Bellefleur" retail park in Belgium 

On 14 November 2023, Ascencio acquired 100% of the shares in Holdtub SRL which owns 3 commercial units in the “Bellefleur” retail park in Couillet (Charleroi, Belgium), totalling almost 3,000 m2.

These recently redeveloped units are fully let and occupied by retailers with national or international reach, namely Jysk, Poltronesofà and Jack&Jones. These retailers are active in the home furnishings, home decoration and men's fashion sectors and further enhance the site's commercial mix and the quality of its customer offering.This acquisition enables Ascencio to consolidate its presence in a retail space that has been a great success for almost 10 years.

The investment is based on a property valuation of €7.0 million, in line with the market value determined by the expert.The transaction, financed entirely by debt, will have an estimated positive annual impact of €0.01 per share on the EPRA Earnings and 0.5% on the Company's debt ratio.

This operation is perfectly aligned with Ascencio's strategy of investing in retail parks that have the required intrinsic qualities in terms of location, commercial appeal and a strong track record.

 

Attachment

• Press Release - Acquisition Couillet