European property company Vastned acquired building with flagship stores Pull & Bear and Forever 21.Vastned, the company focusing on venues for premium shopping, has bought the building located on Kalverstraat 11-17/Rokin 12-16 in Amsterdam center. This building is situated at a central location on the most busiest part of Amsterdam's - popular shopping street Kalverstraat. Major international retailers, such as H&M, Topshop and ZARA, have flagship stores here. Rokin street situated very near to Kalverstraat street, with British department store Marks & Spencer and upmarket department store Haussmann will shortly open for business. The attractiveness of Rokin, will increase when the local stop on the new Noord-Zuid metro line will open in 2017.
The largest tenant of this building is US-based retailer Forever 21, which has its Dutch flagship store here, with approx. 4,500 square metres on several floors. Pull & Bear, part of the Spanish Inditex fashion group, leases the adjoining unit with a surface area of approx. 1,500 square metres on two floors. Both tenants are on long-term leases.
Not so far, the building has been fully redeveloped, creating over 6,000 square metres of retail area.
This acquisition will increase the Amsterdam premium city high street cluster to approx. € 220 million, comprising multiple larger and smaller units, and make Amsterdam the largest premium city high street cluster in Vastned's portfolio. Vastned now has seven retail units on the Kalverstraat, including the retail unit on the Kalverstraat 9 adjoining this acquisition.