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Deutsche Finance International (DFI) has acquired a major circa €200m residential-led development project that will see the creation of a new mixed-use district, which includes the preservation and recycling of the historic elements of a 19th Century flour mill in the Amsterdam suburb of Zaanstad-Wormerveer. Formerly the Meneba flour mill factory, the 4.6-hectare (11.4-acre) 100-year-old industrial site was purchased for the development of 600+ residential units, including Build to Rent and for-sale homes as well as ancillary commercial uses. The investment will therefore transform the underutilised area into a new mixed-use district to be enjoyed by both current and future generations of residents.

The business plan assumes partly retaining and refurbishing the heritage components of the old factory while inserting modern accommodation to complement these buildings. It will also incorporate new outside spaces and public realm for both residents and the local community. In addition, the buildings will feature state-of-the-art design and technology (including solar / PV panels, green roofs and façades, heat & cold storage, etc.) to make a sustainable living and working possible.

Zaanstad-Wormerveer benefits from excellent transport connectivity being just 20 minutes by road or rail from Amsterdam city centre and adjacent to the A7 motorway. The proposed scheme will benefit from its strong micro-location (close to local shops, amenities and schools) while providing much-needed mid-market and affordable housing for the local population.

NEINVER and Nuveen Real Estate have announced the opening date for Amsterdam The Style Outlets. A joint project will open its doors to visitors on 26 November. Amsterdam The Style Outlets will feature 110 stores, including top international brands such as adidas, Bjorn Borg, GUESS, New Balance, Nike, O’Neil, PUMA, Salomon and The Kooples, set across 19,000m² of GLA. The centre will open to visitors with over 75% occupancy, with more brands scheduled to join the line-up after the opening. Beyond an exclusive commercial mix, NEINVER will offer guests a compelling customer experience, with concierge services and free Wi-Fi among others. Moreover, 1,000m² are planned for leisure areas, restaurants with outdoor seating and walkways to provide a complete shopping experience. This €110m investment development will create around 600 direct jobs.

“The opening of Amsterdam The Style Outlets will expand the company’s geographic footprint in a very attractive market and mark a major milestone in our growth strategy, becoming the 17th outlet centre in our European portfolio and the first in the Netherlands. We have pushed hard during the lockdown to advance the development of the scheme and keep its opening date. NEINVER’s over 20 years’ experience in the outlet industry, combined with the this project’s strong positives – a prime location with a catchment area of 12 million people within 90 minutes’ drive,  a curated mix of fashion, sports and leisure brands in a unique shopping environment, and a state of the art design that draws upon the best examples of the Dutch architecture – will ensure the success of this flagship which is set to become a landmark retail destination in the Netherlands.”, said Daniel Losantos, NEINVER’s CEO.

“This new outlet centre in Amsterdam marks an exciting next step in our partnership and we can’t wait to welcome our new guests when the doors open. At Nuveen we continue to believe in the outlet sector, as it offers unique customer experience and continues to provide relative resilience against the e-commerce retail trend. Amsterdam is also currently underserved for quality outlet shopping, so we anticipate that upon opening the new centre will be a great success”, commented Charlotte Ashworth, Fund Manager at Nuveen Real Estate.  

From the first day of operation, the new outlet centre will comply with the ‘Shop Safe, Stay Safe’ guidelines drawn up in collaboration with the inspection and certification organisation SGS, to ensure the safest measures against the spread of the COVID-19 virus.

Following the reopening of its restaurants in May, Mandarin Oriental, Milan has announced that it will fully reopen and looks forward to welcoming guests from 1 September 2020. Housed in four 18th-century buildings in the heart of Milan and steps away from the fashion district and the artistic neighbourhood of Brera, the hotel is reopening all the favourite facilities much loved by guests. The hotel has designed a special welcome back Staycation by M.O. package for guests to enjoy the city. The stay includes daily breakfast for two in Mandarin Bar & Bistrot, early check-in, late check-out, a bottle of sparkling wine and a hotel credit per booking of €100 per room or €200 per suite.

The hotel has put in place Mandarin Oriental Hotel Group’s We Care programme of health and safety practices and precautionary measures to uphold its commitment towards the comfort, safety and health of its guests and colleagues.

AXA IM – Real Assets has created a long term strategic partnership with in’li, a leading operator of affordable housing in Ile-de-France and a subsidiary of French social housing giant Action Logement, with the acquisition of a 75% stake in a newly created property company, which currently comprises a portfolio of c.9,800 residential units in the greater Paris region. Through the partnership, in’li and AXA IM – Real Assets will also seek to develop a further 1,500 new units per year.

The initial portfolio is diversified across the whole of Ile-de-France, Europe’s largest city area with a population of over 12 million people, and totals c.565,000m² across 143 assets. It consists of 61 existing income-producing properties dedicated to affordable housing and comprising c. 5,800 units which are fully occupied, as well as a further c. 4,000 units across 82 purpose-built assets that are currently under construction and are being forward funded by the venture as part of the transaction. As part of the partnership, in’li, which retains a 25% interest in the property company thus created, will source new forward funding development opportunities as well as undertake project management, property management and leasing for the venture through its property management subsidiary in’li Property Management, while AXA IM – Real Assets will be responsible for asset and fund management.

Four Seasons Hotel George V, Paris will re-open its doors to welcome guests from Tuesday, September 1, 2020. Local and international guests will be able to enjoy a timeless stay in the heart of the French capital, where they can rediscover French art de vivre through the expertise and know-how of the Hotel’s experts.

“We are thoroughly looking forward to welcoming guests again and writing with them a new chapter of our story,” commented Jean-Claude Wietzel, Regional Vice-President and General Manager of Four Seasons Hotel George V, Paris. “At all Four Seasons hotels, we have implemented a strict health protocol to allow guests to enjoy their stay in complete safety. Driven with the same passion as always, our team will offer guests a truly memorable stay through experiences that bring guests together with the Hotel’s most talented individuals.”

These exclusive customised experiences offer guests the chance to meet the talents that have made the George V into the legendary Parisian institution it is today. Lovers of haute cuisine will be able to enjoy unique bimonthly experiences led by the Hotel’s celebrated chefs and sommeliers. Tailor-made cooking classes carried out by three Michelin-starred Chef Christian Le Squer, Michelin-starred Chefs Simone Zanoni and Alan Taudon, and Pastry Chef Michael Bartocetti will be offered in the majestic setting of Le Cinq. Classes will take place two Sundays a month, with between two and ten participants per class. Fine wine lovers will also be able to enjoy exclusive wine tasting sessions led by celebrated sommelier Éric Beaumard and Gabriele Del Carlo, Italy’s best sommelier. Guests will also be able to indulge in a fully immersive gastronomic experience with Chef Simone Zanoni.

Link, advised by Patrizia, has acquired an office building located at 25 Cabot Square, Canary Wharf, London, for circa €420m. The Cabot is a rare freehold multi-let Canary Wharf office of over 44,000m² and is widely recognised as a well-established landmark in the capital city. The building is located in the heart of Canary Wharf and benefits from outstanding connectivity to London’s extensive transport network. This Grade A asset which underwent extensive refurbishment and extension work over six years to March 2020 offers highly stable and secure rental income backed by strong tenants such as Morgan Stanley and UK government departments.

The award-winning Dutch hotel and lifestyle brand citizenM has entered into an exciting collaboration with German project developer GBI aimed at the expansion into the German hotel market. The focus for citizenM’s expansion in Germany will be on four cities: Munich, Hamburg, Frankfurt and Berlin, where citizenM plans to open several hotels in each city. GBI and citizenM will search for suitable properties and plots of land for the brand to acquire and then develop turnkey citizenM hotels together.

“It had been clear for some time that Germany, as Europe’s strongest economic country and a sought-after travel destination, would be one of our next targets,” said Klaas van Lookeren Campagne, CEO at citizenM, “but we needed the right partner and consultant for our expansion. We are delighted to have found this with GBI.”

“For GBI, the new mandate is a perfect addition to its development activities,” commented Reiner Nittka, CEO of GBI Holding AG. “In terms of brand positioning and location requirements, this is an ideal fit. Now we can supplement further locations with exactly the right brand.” 

Mandarin Oriental Hotel Group will manage a luxury hotel and branded residences in Vienna, Austria that is scheduled to open in late 2023. Mandarin Oriental, Vienna will be housed in a heritage building that originally served as the city’s commercial law court from 1912 to 2003. The hotel is located in a peaceful street in District One of Vienna within the Ringstrasse. It is in easy walking distance of the city’s major attractions, including St. Stephen’s Cathedral, the Imperial Palace, Vienna State Opera and a wide range of restaurants and bars.

The conversion of the property is already underway, and the restoration will preserve many of the building’s original design elements. On completion, the hotel will comprise 151 guestrooms and suites surrounding a courtyard in the centre of the property, incorporating a restaurant, bar and outdoor garden. The property will also house a Spa at Mandarin Oriental featuring a series of treatment rooms, a swimming pool and a well-equipped fitness centre. A range of adaptable banqueting and meeting spaces will be available for events and social occasions.

The 17 Residences at Mandarin Oriental will be located on the top two floors of the building and will have private access to the roof, with several of the apartments offering outdoor terraces and stunning citywide views. These will be some of the most exclusive apartments in the city, with owners enjoying Mandarin Oriental’s legendary service and direct access to the hotel’s facilities. The project is owned by Brisen Group, headquartered in Geneva and operating in the European real estate investment and wealth management sectors. London based designers, Goddard Littlefair, have been appointed to create the hotel and residences interiors.

Real I.S. AG has acquired the retail and office property “Las Ramblas 124” on Las Ramblas Boulevard in Barcelona’s city centre on behalf of an individual mandate of a German insurance company. The vendor is KKH Property Investors, specialised in developments in prime locations in Spain. The around 4,000m² building which was erected in 1910 is located in Barcelona’s historical city centre. It is divided into equal parts of retail and office space and is fully let. The retail space is leased to FC Barcelona’s flagship store. The offices are home to SEAT Metropolis Lab Barcelona, a company specialised in software development for networks and mobility solutions in the SEAT Group.

“Barcelona’s office market has meanwhile become one of the most attractive in Europe. Rising demand in recent years has led to significant excess demand. The fundamental drivers of Barcelona’s office market will remain intact also after the Corona epidemic,”

Inditex’s Executive Chairman, Pablo Isla, today unveiled the Group’s plan for the next two years, providing insight into the future strategy of Inditex. Under that plan, the Group will invest €1bn in bolstering the online business and a further €1.7bn in upgrading the integrated store platform, deploying advanced technology solutions.

In the words of Pablo Isla, “this strategy is a culmination of the project the company has been investing in steadily and significantly since 2012, a project that will transform its profile notably. The overriding goal between now and 2022 is to speed up full implementation of our integrated store concept, driven by the notion of being able to offer our customers uninterrupted service no matter where they find themselves, on any device and at any time of the day”. 

In parallel, Inditex plans to continue with the store upgrade plan underway since 2012 under which it has opened a gross 3,671 stores that are larger, in more high-profile locations and already integrated with online. From that date, the Group, enlarged a further 1,106 stores, refurbished 2,556 with the latest technology and absorbed 1,729 units, 1,024 of which during the last three years.

Ultimately, Inditex plans to have a total network of between 6,700 and 6,900 stores, from 7,412 today, which will involve opening 450 new stores fitted with all the latest sales integration technology and absorbing between 1,000 and 1,200 smaller-sized stores, which account for 5% to 6% of total sales and are less well-positioned to offer the new customer experiences. Most of these smaller stores are older stores belonging to brands other than Zara.