Shopping centre owner and operator Unibail-Rodamco-Westfield (URW) has completed the disposal of the Villeneuve 2 (V2) shopping centre, located in Villeneuve d’Ascq, in the Lille region of France.
This follows an agreement signed on 21 July with Ceetrus, a subsidiary of French retail group Auchan, which owns over 300 shopping centres in ten European countries.
The price of the operation remains confidential.
Following the acquisition, Villeneuve 2 has been rebranded as Aushopping V2, joining Auchan’s family of 60 Aushopping centres across France.
The Aushopping V2 shopping center consists of 120 shops, anchored by an Auchan hypermarket, as well as restaurants and services.
With the latest deal, URW has completed €3.2 bn of disposals, representing 80% of its €4.0 bn European disposal programme, at an average net initial yield of 4.9% and a premium of +5.1%.