NEINVER and TH Real Estate add Amsterdam The Style Outlets to Neptune portfolio

Madrid, – Neptune—a joint venture between NEINVER and TH Real Estate,—has acquired a plot of land at Sugar City in Halfweg for Amsterdam The Style Outlets, now under development. The new centre will become the 14th European asset in the Neptune portfolio.

Amsterdam The Style Outlets, which just finished preparatory works for its construction, is expected to open in autumn 2020. The high-end outlet centre will feature 115 stores set across 19,000sqm GLA. strategically located in Randstad, one of the wealthiest regions of Europe,it benefits from easy access to the Dutch capital and Haarlem, near Amsterdam Airport Schiphol. It will become a strategic asset for the JV as Neptune’s first centre in the Netherlands.

The centre, currently under development, will open in Autumn 2020

According to Vanessa Gelado, Investment Director of NEINVER, “Neptune’s acquisition of what will be the first premium outlet centre in the Greater Amsterdam area reinforces the JV’s solid and successful growth. Amsterdam The Style Outlets is set to become a prime outlet asset in Europe, building on its excellent retail location, large catchment area of residents and tourists, outstanding architecture and an engaging brand mix.

Charlotte Ashworth, Fund Manager, Neptune TH Real Estate, comments: “Outlet centres have outperformed the market average sales growth over the past decade and we are thrilled to add a new country to our strong portfolio of outlet assets. Amsterdam The Style Outlets provides us with an exciting opportunity to create a first-class retail experience in a thriving city.”

This is yet another step in the strategic joint venture that NEINVER, an industry-leading company specialised in property investment, development and management, and TH Real Estate, one of the largest real estate investment managers in the world, entered into in 2014 to create a leading pan-European outlet sector platform. This partnership—an exclusive shareholder joint venture agreement—currently includes 13 assets (304,500 m² GLA): five in Spain, another five in Poland, two in Italy and one in France.