De Pardieu Brocas Maffei has advised Immochan France and Altarea Cogedim in connection with the acquisition by Immochan France from Altarea Cogedim of 50% of the capital of the company holding the retail park “Promenade de Flandre”, located near the Belgium border and involving a surface area of 60,000 sq.m, thereby permitting to Immochan France to hold the entirety of that retail park.
In 2005, Immochan and Altarea formed the SCI du Petit Menin to jointly promote and develop the Promenade de Flandre project, for which project management was allocated to Immochan France and marketing to Altarea Commerce.
The Retail Park, which was inaugurated on 17 October 2017, is fully marketed and represents total rental income of €7.7 million. With 60,000 m² of surface area, it comprises: 5 large stores, 24 mediumsized stores, 10 smaller shops, 6 restaurants and 2,000 parking spaces.
With this acquisition, Immochan France confirms its investment strategy consisting of strengthening and developing its major sites.