Retail Estates enters French market with €29m acquisition

Belgium’s Retail Estates has made its first move into the French market by buying the L'Oseraie retail park in Osny, Île-de-France, for €29 mln from Compagnie de Phalsbourg.

Osny, France - Retail Estates

The purchase will be financed with a mix of company funds and bank loans.

This fully-occupied retail park, which opened in 2019, spans 12,734 m2 and features 10 units. It generates an annual rental income of €1.95 mln. The tenants include well-known international and national brands like Action, Gémo, and Maxi Zoo. The park is part of a larger commercial area that includes an Auchan hypermarket and other major retailers, benefiting from a strong customer base.

This acquisition aligns with Retail Estates' strategy for growth and international expansion. After several years of market analysis, the company chose the Paris region due to its strong population and consumer spending power.

CEO Nicolas Beaussillon commented: “We are determined to continue growing in our core business: retail parks on the outskirts of cities. In Belgium and the Netherlands, we now have significant market shares, and growth opportunities are limited. France, on the other hand, offers this potential. The combination of a very large population, a highly dynamic domestic rental market, and a significant presence of retail parks makes this market particularly relevant to our strategy.”

Following this initial entry into the Île-de-France region, Retail Estates plans to expand further into France by seeking out retail parks on the outskirts of other major French cities. Their goal is to replicate the rapid success they achieved in the Netherlands, where their international expansion began in 2017 and now accounts for one-third of their total portfolio value.

As of 31 December 2025, Retail Estates manages 1,017 rental units across Belgium and the Netherlands, totalling 1.21 million m² of retail space.