Troyes & Roubaix
Troyes is the largest designer outlet in France, with over 100 stores, 30,000 sqm of gross leasable space (GLA) and 1,700 parking spaces.
The Project
Bought from the Henderson Outlet Fund as “mature” assets. A business plan was created to replace old brands, improve sales performance and NOI. The existing operating agreements needed to be restructured as did the corporate structure. The plan being to improve income and liquidity of the asset to realise capital growth.
The results
A restructuring of the holding entity, the operational management and over 50 new leases signed to national and international brands. The centres were sold in January 2016 at a 3x equity multiple.
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