Ascencio Acquires a €22.8 Million Retail Park in Vaucluse
Belgian real estate company Ascencio announces the purchase of the Horizon Provence retail park, located in Monteux, Vaucluse, for a pre-tax amount of €22.8 million. This transaction, fully financed through debt, aligns with the group's development strategy focusing on suburban commercial assets.
Overview of Horizon Provence
The Horizon Provence retail park includes about twenty commercial units spread over an area of more than 12,000 sqm, according to the press release. The center features a food offering with the Super U brand and the Maison des Agriculteurs, which distributes products from over 150 local producers. This food component is complemented by other brands such as Krys, Marie Blachère, and Basic Fit. The site is located in a residential and tourist area of the Provence-Alpes-Côte d'Azur region, along the main axis connecting Avignon to Carpentras.
Sustainability Features
The asset is BREEAM certified and includes several sustainability features, the company indicates. The retail park is equipped with 8 electric vehicle charging stations, nearly 1,500 sqm of photovoltaic panels, and about 1,000 sqm of shade structures. Additionally, the site is located near soft mobility nodes, with access to train and bus services.
Financial Details and Impact
The transaction, carried out at an amount in line with the market value determined by an independent expert according to the group, is fully financed by already secured credit lines. Ascencio expects an immediate positive impact of €0.07 per share on an annual basis on EPRA Earnings. The acquisition is expected to result in an increase of approximately 1.7% in the EPRA LTV debt ratio. CEO Vincent H. Querton emphasizes that this transaction illustrates the group's selective growth strategy, focused on suburban commercial assets with a commercial mix centered around food brands in attractive areas.
