What was announced

Wereldhave N.V. announced on 30 October 2026 that it has sold the Eggert Center in Purmerend, the Netherlands, to Transitions Europe, a French real estate Investment fund (SCPI) managed by Arkéa REIM. (LSE:0NMR) The transaction closed the same day.

The sale price is €62.8 million, excluding transfer tax. (LSE:0NMR) Wereldhave said the price is around the asset's latest Book Value and reflects a net initial Yield of around 7%.

As part of the deal, Wereldhave will remain the full-service asset, property and leasing manager of the centre through its Dutch asset management platform, applying its LifeCentral strategy. (LSE:0NMR)

The asset

Eggert Center is located in Purmerend, within the Amsterdam metropolitan area. (LSE:0NMR) It has about 20,700 square metres of gross lettable area and 55 stores. Anchor tenants include Albert Heijn, Basic-Fit, C&A, HEMA, H&M, Jumbo and Rituals, and the centre attracts around 4.4 million visitors a year.

Wereldhave acquired the property in 2010 and later redeveloped it into one of its Full Service Centers, the format at the heart of the company's LifeCentral strategy.

Capital rotation and Balance Sheet impact

The disposal forms part of Wereldhave's Capital rotation programme. Together with the sale of the De Mael retail park in Bruges, Belgium, the company expects the transaction to reduce its net loan-to-value ratio by around 250 basis points compared with 30 June 2026. The announcement does not give a separate price for De Mael or state the resulting loan-to-value ratio.

Wereldhave said it is also pursuing Acquisition opportunities in Belgium. It maintained its guidance for 2026 direct result per share of €1.85 to €1.95.

The announcement does not disclose the fee terms of the management mandate, its duration, or the expected use of the proceeds beyond the effect on leverage.

The sale at around book value means the transaction is not expected to produce a material valuation gain or loss, based on the company's description, although Wereldhave has not quantified any result on disposal. The disclosed price and yield of around 7% also give investors a transaction reference point for a Dutch shopping centre of this size, alongside the independent valuations that underpin the book value.

A second management partnership

The retained mandate is Wereldhave's second management Partnership in the Netherlands, following the 2025 joint venture with Tikehau Capital for Stadshart Zoetermeer. The company said the arrangement supports its aim of building a third-party management platform that generates income with a lower capital commitment.

Chief Executive Matthijs Storm said: "We are pleased that SCPI Transitions Europe, managed by Arkéa REIM, has chosen to retain Wereldhave as asset management partner for Eggert Center. This decision reflects confidence in our LifeCentral strategy and our ability to deliver value through our Dutch management platform. It demonstrates that the expertise we have developed in managing Full Service Centers is also recognized by third-party investors."

By our calculation, a net initial yield of around 7% on €62.8 million implies Net Income from the centre of roughly €4.4 million a year. That income now passes to the buyer, while Wereldhave will earn management fees on undisclosed terms.

What to watch next

Investors will be able to see the effect of the Eggert Center and De Mael disposals on the balance sheet in Wereldhave's next financial reporting, including the actual change in loan-to-value. Further points of interest are whether the company announces acquisitions in Belgium, which it said it is pursuing, and whether it adds more third-party mandates to its management platform. Wereldhave has kept its 2026 direct result guidance unchanged.