Physical property investments are focused on retail assets across Europe. Lighthouse Capital targets properties with strong sustainable income from high quality tenants with strong likelihood or renewal of leases on expiry.
Name of Property – Forum Coimbra (Portugal)
Date of Acquisition – 31 May 2017
GLA – 51,489 sqm
Located in Coimbra, which is the capital of the Centro region of Portugal. Coimbra is situated between Lisbon and Porto with a population of approximately 144 000. Forum Coimbra is the most dominant retail centre in its catchment area. It is in a prime location with excellent visibility and easy access to both the city centre and the A1 motorway (Lisbon – Porto). The shopping centre is anchored by a fully refurbished Continente (in separate ownership), is tenanted by 141 retailers and has 2 597 parking spaces. Forum Coimbra has a dominant food court that boasts 30 different restaurant options, a six-screen cinema NOS complex and a Crazy Bowling. Fashion anchors include international heavyweights such as Primark, eight of the Inditex brands, H&M and JD Sports, and this year we saw the introduction of Adidas, Bimba Y Lola and Seaside to the tenant mix. The weighted average rent per m² (“rate per m²”) is EUR 27,83 (EUR 27,13 in 2018).
Name of Property – Forum Viseu (Portugal)
Date of Acquisition – 31 May 2017
GLA – 18,705 sqm
Located in Viseu, which is in the Centro region of Portugal, Forum Viseu is a CBD mall on the strongest high street in Viseu.
With footfall of over 4,9 million people in 2019 (4,3 million in 2018), Forum Viseu is the dominant fashion destination in Viseu. It has a highly accessible location in the city centre with more than 50% of the footfall being pedestrian. The shopping centre is anchored by Pingo Doce, tenanted by 49 retailers with a strong representation by the Inditex brands and has 784 parking spaces. During 2019, we saw the introduction of new brands such as CEX, Kollect & Chic 2 Chic, while Forum Viseu was further embedded as the centre of the Viseu community when a new 1 500m² Fitness Hut gym opened at the end of November 2018. The rate per m² is EUR 15,91 (EUR 15,20 in 2018).
Name of Property – Planet Koper (Slovenia)
Date of Acquisition – 04 July 2016
GLA – 31,625 sqm
Located in Slovenia’s only port town, Koper, Planet Koper is the largest, most dominant shopping centre on Slovenia’s 47 kilometre coastline, with footfall of four million. The shopping centre is well located just off the coastal motorway with easy access to the city centre and the surrounding residential population. Planet Koper is anchored by a Tus supermarket, is tenanted by 79 retailers and has 1 130 parking spaces. We are pleased to report that during 2019 we have opened a new food court that is anchored by well-known national restaurant chains Lars & Sven and Teta Frida, and we have successfully introduced an array of international brands to the shopping centre, and in most cases these brands are the first in the region and exclusive to Planet Koper. This includes the opening of four new stores from the LPP Group: House, Cropp, Sinsay and Mohito. Furthermore, international brands such as L’Occitane, Galileo, Superdry, Europa 92, Champion, Sport Vision, and Polleo Sport, have all opened during the year. We are pleased to announce that the refurbishment of the shopping centre was completed during September 2019. The rate per m² is EUR 13,89 (EUR 11,80 in 2018)