Since we started to house our own fashion stores in the early 1980s Real Estate has become a second important activity within the Group. The strategy was to buy one property for every two locations we rented. Today we also purchase, manage and sell business premises for third parties. Only a small part of our real estate is rented out within the Group. In addition, over the past decade our focus has expanded to residential destinations. This strategy provides excellent returns.
Most of our real estate is situated in the Benelux with some additional properties in Germany and the U.S. As our commercial portfolio comprises prime A1 locations in major cities there is always ample interest for it by international retailers that seek to open stores. This is of solid value to our enterprise.
In addition to acquiring existing business premises, the Group also participates in the development of commercial real estate. The 'Mall of the Netherlands' in Leidschendam may serve as a good example. As of March 2021 this completely new concept will provide a unique shopping experience. Next to our two flagship stores America Today and MS Mode, Coolinvestments owns and leases additional properties to third parties here.
“We truly believe in the ambition Unibail-Rodamco-Westfield has set for this project. The ambition of the project in combination with the unique catchment area made us re-evaluate the locations of our current stores in this challenging Dutch retail landscape. We are now focusing on two big flagship stores for America Today and MS Mode stores in Westfield Mall of the Netherlands to strengthen our position in the greater The Hague region."
Roland Kahn, co-owner/founder Coolinvestments
In response to the increasing and persistent shortage on the Dutch housing market, we are also actively engaged in purchasing residential destinations and in the purchase and transformation of former business premises into suitable residential locations for private individuals.