Redevco makes French debut with Paris retail park acquisition

European real estate company Redevco has entered the French market by acquiring the 32,000 m2 Pont-de-Pierre retail park in Garges-lès-Gonesse, north of Paris.

Retail Park GLG © Studio Module

This acquisition, made on behalf of its Redevco European Retail Parks (RERP) fund, marks the fund's first investment in France, bringing its total portfolio to 12 assets across Europe.

The Pont-de-Pierre park, situated within the La Muette business park, is one of the ten largest retail parks in the Ile-de-France region. It features 16 retail units, 1,000 parking spaces, and a strong mix of national and international brands, including anchor tenants like Brico Dépôt, Lidl, and Action. Serving a densely populated area of approximately 400,000 inhabitants, the park benefits from excellent accessibility to major motorways and roads.

Redevco plans to enhance the park's customer experience and operational performance through various improvements, such as upgrades to parking, landscaping, and signage. They also aim to achieve environmental certifications like BREEAM and GRESB, aligning with their portfolio standards.

Séverine Maumy, head of Asset and Transaction Management, said: "This first investment in France marks a significant acceleration of our retail parks strategy in the country, as we continue to strengthen our presence in key European markets. The acquisition of the Pont-de-Pierre retail park reflects Redevco’s focus on convenience-led retail parks in dense urban catchments, prioritising income durability and long-term operational resilience. This strategy is based on rigorously selected assets, capable of adapting to changes in consumption patterns and being part of a long-term growth perspective.”

Benoît Van Haare Heijmeijer, senior transaction manager, added: "With its strong fundamentals and well-established positioning, the Pont de Pierre retail park in Garges-lès-Gonesse is an attractive asset for our investors and fully aligned with the group's strategy. As a leading retail park in the north of Paris, it offers a high-quality tenant mix and secure rental income. This acquisition strengthens our presence in France and supports the continued growth of our platform across both urban and out-of-town locations.”

Marie Sardari, head of Value-Add Asset Management at Tikehau Capital, commented: “Since 2015, this asset has demonstrated its resilience, supported by the strength of its fundamentals and active management. We welcome its transfer to Redevco, a recognised specialist in this asset class.”