PingProperties extends financing arrangement with NIBC for Passage Schiedam shopping centre
20-04-2023
On behalf of Daily Convenience Center III, PingProperties has extended the financing arrangement with NIBC for Passage Schiedam shopping centre, situated in the centre of Schiedam. This extension enables PingProperties to continue its asset management strategy.
PingProperties’ convenience retail strategy
PingProperties invests in convenience retail in urban district centres. It believes in a strategy with a strong mix of tenants focusing on the constant interaction between people, goods and services. Concentrating on a fuller range of day-to-day purchases and the addition of strong chain stores focusing on additional choices, local heroes and public services will lead to a better performance of a shopping centre. PingProperties sees considerable growth potential for Passage Schiedam shopping centre.
Development of catchment area
Schiedam is undergoing exponential growth. Thousands of homes in a range of segments will be built during the coming years. The municipality and national government are making significant investments to make the area’s living environment even more attractive. At present Schiedam has a population of around 79,000. With an average annual population growth of approx. 16% over the coming ten years, the number of residents is projected to rise to around 91,500.
Daily convenience Passage Schiedam
The Passage Schiedam shopping centre is superbly situated in the historic centre of Schiedam and is the largest and oldest covered shopping centre in the town. Around 68 retail units are found in the shopping centre, spread across a ground floor and three upper floors. The complex has a floor area of approx. 18,300 m² LFA, as well as a five-level underground car park with 280 parking spaces. Passage Schiedam attracts 62,700 visitors every week, with Hema, Action, Bristol, H&M and Nelson as the top 5 tenants. For day-to-day shopping there is a Dirk supermarket around the corner from the Passage.
Savills was involved as valuer and Loyens & Loeff provided PingProperties with legal assistance.
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