The portfolio comprises 56 high street shops and over 100 apartments in prime locations in Lille at a net initial yield of 5.0%, taking related purchase costs and the applicable SIIC exit tax into account. The total lettable retail area amounts to 12,000 sqm.
Twenty of the shops, let to French and international tenants such as Bata, Fuji, Diesel and Louis Vuitton, are in the upmarket shopping area near Rue de la Monnaie, the other 25 are in the mass market retail zone around Rue du Sec Arembault.
Wagram Corporate Finance has developed a real estate practice backed by very senior resources leading to the closing of various and complex structuring transactions involving different class of assets such as building, commercial and high street shops segments.
Wagram was exclusive sell-side advisor to the shareholders.
