Latest news with #UnibailRodamcoWestfield
Yahoo
26-05-2025
- Business
- Yahoo
Wereldhave announces first joint venture, with Sofidy (Tikehau Group), acquiring shopping center Stadshart Zoetermeer in the Netherlands
Wereldhave and Sofidy (Tikehau Group), a leading European real estate investment and asset management firm, have partnered on the acquisition of shopping center Stadshart Zoetermeer, and parking garages, in Zoetermeer, the Netherlands, from Unibail-Rodamco-Westfield. The asset has a total gross lettable area of approximately 59,000 m² (excluding parking). This acquisition marks Wereldhave's first joint venture and aligns fully with the company's strategy and acquisition criteria. Wereldhave will act as asset, property and leasing manager with the view to enhance the value for all stakeholders through its proficient Dutch asset management platform and by implementing its LifeCentral strategy. The total purchase price amounts to € 150m (€ 165.6m including transaction taxes) with Wereldhave investing a 15% equity stake. The joint venture is partly (40% loan-to-value) financed through a secured green five-year loan from a leading Dutch bank. The transaction will have a positive annualized impact on Wereldhave's Direct Result Per Share (DRPS) of € 0.04. Matthijs Storm, CEO of Wereldhave commented: 'We are proud to take this step together with Sofidy, marking the first joint venture as part of our recently reported new management agenda 2025-2027. This partnership allows us to leverage our management expertise while investing a minority stake, in line with our strategy of value creation through active asset management.' The transaction is scheduled to close at the end of the second quarter of 2025. About shopping center Stadshart Zoetermeer Stadshart Zoetermeer is a prime mixed-use shopping center including high street and daily-life retail, F&B operators, services, ancillary office space as well as various parking garages. The center comprises of ca. 59,000 m² GLA (excluding parkings) and is located in the city center of Zoetermeer, a growing urbanization in the heart of the Randstad, very well-connected to The Hague and Rotterdam. The center, with over 110 tenants, is anchored by a strong mix of international and national brands, including Albert Heijn, Hema, MediaMarkt, Kruidvat, Primark, JD Sports, TK Maxx, H&M, MS Mode, and more. Stadshart Zoetermeer attracts over 8 million visitors annually, making it a key retail destination in the region About Sofidy (Tikehau Group) Sofidy is a leading European real estate investment and asset management firm. The company manages several real estate investment funds throughout Europe mainly dedicated to retail and office properties. Approved by the AMF (the French financial markets regulator), Sofidy is wholly owned by the Tikehau Group, listed on Paris stock exchange. Attachment PR 26-5-2025 - Wereldhave announces first JV with Sofidy acquiring Stadshart ZoetermeerError in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Insider
21-05-2025
- Business
- Business Insider
Kepler Capital Sticks to Its Buy Rating for Unibail Rodamco Westfield (1BR1)
Kepler Capital analyst Frederic Renard maintained a Buy rating on Unibail Rodamco Westfield (1BR1 – Research Report) on May 19 and set a price target of €100.00. The company's shares closed last Monday at €75.58. Confident Investing Starts Here: Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions Receive undervalued, market resilient stocks straight to you inbox with TipRanks' Smart Value Newsletter According to TipRanks, Renard is ranked #6552 out of 9519 analysts. The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Unibail Rodamco Westfield with a €92.41 average price target, which is a 22.27% upside from current levels. In a report released on May 19, Jefferies also maintained a Buy rating on the stock with a €100.00 price target. Based on Unibail Rodamco Westfield's latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of €1.64 billion and a net profit of €74.5 million. In comparison, last year the company earned a revenue of €1.47 billion and had a GAAP net loss of €1.09 billion Based on the recent corporate insider activity of 71 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of 1BR1 in relation to earlier this year.
The Sun
18-05-2025
- Business
- The Sun
Once-thriving town that's now dubbed a ‘rubbish dump' set for new shopping centre & train station in £5bn revamp
AFTER years of delays, Croydon's centre is finally set to undergo a major transformation. From retail and housing to new public spaces and train station improvements, the London borough is set to see a hefty £5 billion invested into the area. 3 3 Croydon's Old Town boasts a rich history of Saxon -era buildings as well as being the Archbishop of Canterbury 's summer residence for more than 500 years. However, the bustling area eventually became neglected, falling into disrepair. Some locals even complained that the town had become an eyesore and an embarrassment, pointing out the vast amounts of rubbish being dumped in public areas. In 2012, Croydon was promised a Westfield location, however plans for the development were eventually scrapped. Unibail-Rodamco-Westfield (URW) took control of the project in 2023, giving residents of the area new hope. Tim Hurstwyn, Development Director at URW spoke to the Local Democracy Reporting Service (LDRS) about the new plans. He explained that unlike the old Westfield plans, which mainly focused on retail, this new initiative would be "mixed-used" and flexible. 'If the last few things have taught us anything, it is that building for a particular use is short-sighted," he said. He confirmed that construction is expected to start in 2028 and would see the Whitgift Centre transformed into a mixed-use space "emphasising community and accessibility". The current centre would be split into two areas: Whitgift North and South. Under the plans, Whitgift North would contain housing and other community-use spaces, depending on the local need. This area would also include a public square, a linear park, flexible workspaces, and retail units. Meanwhile, Whitgift South would remain primarily a retail-focused area with room for car parking, some houses, and a public area called Anchor Square. The south side would also go back to the listed Whitgift Almshouses and Electric House, which are URW's primary heritage concerns. The Whitgift's newer sibling, Centrale, which sits on the other side of North End, is also included in URW's redevelopment site. 'Downtrodden' English ghost town where locals feel 'left behind' being turned into 'vibrant' shopping hub in £9m revamp By Nicole Cherruault A "DOWNTRODDEN" English ghost town is being turned into a "vibrant" shopping hub in a £9million revamp. The town in northern Manchester set to totally transform as the council launches a multi-million pound"vision for change" after locals complained the town felt "left behind". More than 600 people were consulted over renovation plans in Eccles, Salford and work has now started on demolishing the town's shopping centre, which was suffering from falling visitors numbers. Following the demolition stage, a development partner will be appointed to bring new life to what residents described as a "downtrodden" town, reports Manchester Evening News. The objective, the council said, is to create a "vibrant" and a "fit for purpose" centre for people to enjoy. Attracting more independent retailers, and new bars and cafes are among the council's top priorities. And just three miles from Salford Quays and Manchester city centre, the redevelopment project looks set to transform the area into a buzzing place for young professionals and business owners. This comes as locals despaired over the ailing town, saying they felt it had been "left behind" and it was in desperate need of some "drastic" improvements. The council stressed that the demolition work will be a long process, with the initial phase due only to be completed by the end of the year. However, Councillor Mike McCusker reassured locals that despite the renovations, the town centre "remains open for business", stressing that the works only affect a few areas. He said: 'Whilst we work on the town centre of the future, today's town centre remains open for business,' said Coun Mike McCusker, lead member for planning, transport and sustainable development at Salford council. 'I want to stress that this demolition work only affects certain parts of the town centre. 'The shops and businesses on Church Street are still open for business and unaffected by this work.' Meanwhile, Councillor McCusker, who represents the Eccles ward, shared his enthusiasm for the project, in particular for its focus on the local community. In a statement, he spoke of his "excitement" for the times ahead in materialising their vision for a brighter, more dynamic Eccles. He said 'Through our purchase of the shopping centre, we were able to put the future of the town centre in the hands of the council and the community. 'It has enabled us to begin this important and long-overdue programme of work, to deliver the vision we have developed with the community. 'The demolition work will take some time, but there are exciting times ahead for Eccles as we work to bring this vision to life.' A more modern site, Centrale opened in 2004, 34 years after the Whitgift, and therefore has less intensive works planned. While there is currently no indication as to how tall the planned development will be, one URW representative told the LRDS that the plans are not expected to reach the heights of the skyscraper buildings around East Croydon station. And the station is also set to undergo a development of its own as part of the town's ambitious £5.25 billion regeneration project, Future Croydon. East Croydon Station, which welcomes 26,000 passengers a day, will see upgrades including a concourse expansion and reconfiguration of tracks to reduce bottle-nosing delays. While construction is yet to begin on the station work, the transformation of Whitgift into a flagship retail space is anticipated to start in 2028. Completion is not expected until the 2030s. Executive Mayor Jason Perry said he is committed to bringing the transformation project to life. "We will work with residents and partners across Croydon in new ways to make this happen and to bring this transformation plan to life," he said. "My promise is to turnaround Croydon."
Bloomberg
14-05-2025
- Business
- Bloomberg
URW Plans €3.1 Billion Shareholder Payouts After Retail Recovery
Unibail-Rodamco-Westfield, Europe's largest mall landlord, plans to return at least €3.1 billion ($3.5 billion) to shareholders through 2028 as it lays out a new plan for growth after enduring the twin crises wrought by ecommerce and the pandemic. The Paris-based company will distribute €4.50 a share this year and is targeting a payout ratio of 60% to 70% from 2027, according to a statement Wednesday. Shares of URW gained as much as 1.75% in early Paris trading.
Arabian Business
09-05-2025
- Business
- Arabian Business
Cenomi Centers partners with Unibail-Rodamco-Westfield to transform Saudi retail landscape
Cenomi Centers has signed a 10-year exclusive strategic and franchising partnership with global retail giant Unibail-Rodamco-Westfield (URW), bringing the prestigious Westfield brand to Saudi Arabia's retail sector for the first time. The agreement, which includes an option to extend for another decade, gives Cenomi Centers exclusive licensing rights to the Westfield brand in the Kingdom. The partnership was formalised during a signing ceremony at Jawharat Riyadh, one of three malls initially selected for Westfield branding alongside Jawharat Jeddah and Nakheel Dammam. The collaboration is expected to impact up to eight top-performing centers in Cenomi's portfolio, with more details to be announced in coming months, according to company officials. 'We are thrilled to embark on this groundbreaking and exclusive partnership with URW, a global leader in the retail industry,' said Alison Rehill-Erguven, CEO of Cenomi Centers. 'This collaboration not only solidifies our position as the leading owner, operator and developer of contemporary lifestyle centers in Saudi Arabia, but also aligns with the Kingdom's broader goals for economic growth and development in both the sector and region.' Under the agreement, Cenomi Centers will gain access to URW's expertise in leasing, operations, marketing, and retail media. The Saudi company aims to leverage this knowledge to transform its Westfield-branded malls into premier destinations for consumers, tourists and global brands. Jean-Marie Tritant, CEO of Unibail-Rodamco-Westfield, expressed optimism about the partnership's potential: 'Cenomi Centers is an incredible partner that shares our vision for the future of retail. Its portfolio of flagship destinations matches the ambition of the Westfield brand, providing the perfect platform to deliver Westfield's unmatched experience to customers and visitors in the Kingdom while also supporting the brand's international expansion.' The partnership comes as Saudi Arabia continues to implement its Vision 2030 programme, which aims to diversify the economy and enhance quality of life for residents. According to company officials, the exclusive partnership affirms Cenomi Centers' premier position in its home market and represents a significant vote of confidence in the company's growth trajectory. The agreement is expected to deliver multiple strategic advantages to Cenomi Centers. First, with Westfield attracting over 900 million annual visits across its US and European locations and being widely recognised by Saudi consumers and visitors alike, Cenomi Centers can significantly expand its customer base among citizens, residents, and tourists. The partnership also enables enhanced tenant offerings through access to URW's global relationships, helping Cenomi increase its share of key global anchor brands and first-to-KSA stores. This is expected to create a more differentiated retail environment that drives higher footfall and tenant sales. 'The collaboration will allow us to significantly enhance customer experience to international best-in-class standards,' a Cenomi spokesperson noted. The company plans to introduce the latest digital technologies, including in-mall apps and services, to Saudi consumers. Financial analysts point to additional growth opportunities as the partnership is projected to boost Cenomi Centers' performance across both existing and new developments. This includes not only core gross leasable area (GLA) business but also digital media sales through URW's Westfield Rise retail media agency. The companies will also collaborate on third-party business opportunities serving the Kingdom's major retail and lifestyle developments. Sustainability initiatives will also benefit, as Cenomi Centers gains access to URW's best-in-class tools, systems, and operational manuals to boost sustainability and operational efficiencies across its portfolio. The financial structure of the partnership includes fixed and variable licensing and service fees for URW, with opportunities for further business and licensing collaborations within Saudi Arabia. The agreement represents a significant vote of confidence in Cenomi Centers' growth trajectory and established market position in the Kingdom, marking what both companies describe as a pivotal moment in the evolution of retail and lifestyle experiences in Saudi Arabia.
