Last Independant Cornershop on the Veldstraat, Ghent, Sold

19 Jan, 2011, Gent

Cushman & Wakefield advised the sale of one of the last independent stores on the Veldstraat.

This unit of 117 sq.m., located on the corner of the Veldstraat and the Volderstraat, has been owned by the Caron family for five generations now.

Philippe Cnops, son of Ms. Caron, decided along with the family to bring their current activity to an end, and give his career a new direction.

In addition to this, the current independent store no longer achieved satisfying performances, considering the rental value of the premise.

After the rue Neuve in Brussels and the Meir in Antwerp, the Veldstraat ranks third among the most expensive high street locations in the country.

Cushman & Wakefield was assigned in early 2010 for the definition of potential buyers likely to make an offer.

After a very successful commercialization, the building was finally sold to the highest bidder, namely a private investor from Brussels, whose plan is to refurbish the store and have it let through Cushman & Wakefield's services.

With this transaction, the last independent cornershop of the Veldstraat disappears. In 2007, the Bloch pastry business (on the opposite corner) had also been sold to a private investor, and let in the meantime to Zara Home and Fossil.

The other corner, previously held by the Herkenrath family (running a bookstore), had also been sold and let by Cushman & Wakefield back in 2000. Today, this corner welcomes a Celio store.

Demand for this kind of products is particularly strong, due to their strategic location, in this case a corner in one of the top-three high street locations in the country.

For additional information, please contact Arnaud de Bergeyck (+32 2 546 08 77).

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