(origineel Engelstalig persbericht)
The Standard Life European Real Estate Club L.P. III (Euro Club III) has begun the €14 million redevelopment works to the Oranjerie Shopping Centre in Apeldoorn, The Netherlands.
Preliminary works to upgrade the entire 18,827 sq m covered centre started in February 2018. The upgrade will include refurbishment of the mall areas and the creation of enhanced retail and food facilities to significantly improve the overall customer experience. Flagship units have already been pre-let to international retailers TK Maxx and Mango, which join existing anchor tenants, Zara and New Yorker.
The refurbishment, which also has a focus on improved environmental initiatives, will be carried out over several phases to allow the centre to remain open and avoid disruption to businesses. It is due to be completed in Autumn 2019. The key improvements will include:
- New entrances and the creation of additional retail space on Hoofdstraat and Mariastraat shopping streets
- New double-height shopfronts
- New mall finishes
- Improved customer circulation with new elevators and escalators
- Enhanced environmental systems, including LED lighting
- Improved sight-lines
- Enhanced and sustainable customer welfare facilities
Colin Hall, Development Manager, Aberdeen Standard Investments, commented: “Oranjerie is in the heart of Apeldoorn’s shopping district and has significant potential to reinforce its position as one of the most important shopping destinations in the region. This refurbishment will enhance the centre’s appeal for retailers and boost footfall, attracting customers from Apeldoorn and the surrounding area, as well as local tourists. We are confident that its updated look and additional offering will appeal to both tenants and customers.”
Oranjerie shopping centre was built in 1993 and acquired by the Standard Life European Real Estate Club L.P. III (Euro Club III) in 2016.
Euro Club III is a closed-end real estate investment vehicle that focuses on core markets in continental Europe.