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Quares Retail Fund Takes Control of POG 4
4 Aug, 2010, Sint-Truiden
On 12 July 2010, Quares Retail Fund acquired POG 4 from Prowinko. POG 4 is a company owning, among others, two retail units in Sint-Truiden, which are fully let. Both located on the Luikerstraat 49-51, in the commercial hart of the city, the shops present a total area of 2,200 sq.m. Sint-Truiden represents about 38,000 inhabitants, and enjoys a catchment area covering around 63,000 persons, all with a higher purchasing power. With a frontage reaching 21m. in total, the building is one of the most representative, most visible and most impressive of the street, which is also one of the most important retail locations in the city.
The two stores are subject to a long-term lease agreement with H&M and an Esprit franchise.
The international real estate consultant Cushman & Wakefield advised the vendor in this operation.
Thanks to this acquisition, the Quares Retail Fund portfolio expands with two highly valuable and recently refurbished inner-city properties, in one of the most attractive retail destinations in Sint-Truiden. The operation also diversifies the portfolio, which until now mostly included peripheral retail goods, as the tenancy profile, welcoming additional tenants with a strong position.