PARIS--(BUSINESS WIRE)--Regulatory News:
Mercialys (Paris:MERY) has once again confirmed its appeal with the delivery of three extension projects at the end of 2017 for the Saint-Étienne, Morlaix and Rennes malls and the arrival of 68 retailers, including 10 new ones, in these shopping centers. Driven by its outstanding commercial development, Mercialys is continuing to diversify and strengthen its offer and create value within its portfolio.
In Saint-Étienne’s Monthieu retail hub, the shopping center extension opened its doors on November 8.
Following its transformation in less than a year, this extension project has attracted 19 new stores and 4 mid-size units, further enhancing the existing selection.
Its commercial visibility has been rethought and it is now easier to identify and access its various services. Among others, Fnac, Itstyle, Adopt, Leonidas, Z, Acuitis, New Yorker, Brut Butcher, Courir, MGC Shoes and Rouge Gorge have chosen to benefit from this fully renovated space, enabling La Galerie Espace Monthieu to now offer 60 stores and restaurants and 4 mid-size units.
On November 23, the opening of La Galerie Géant Morlaix highlighted the successful extension of this neighborhood shopping center, the leader in its catchment area. Its existing selection has been further enhanced with the arrival of numerous retailers, including H&M, Nocibé, Yves Rocher, multistore Jules Brice Bizzbee, Le Club Sandwich, Maneo, Rouge Gorge and Bleu Libellule. The center now offers 65 stores.
On November 29, in Rennes, a new project from the pipeline was inaugurated. This center has completed its transformation, unveiling its extension’s 22 stores and mid-size units. La Galerie Grand Quartier is now home to 110 stores and 10 restaurants over 45,000 sq.m. Its outstanding modern urban architecture, firmly integrated within its environment, is combined with a modernized interior design and new signage.
Mango, Bizzbee, Father & Sons, Footlocker, Timberland and Armand Thiery (men’s and women’s collections) have been added to the range of fashion stores already present. Le Comptoir de Mathilde, Waffle Factory and Bialetti have also enhanced the dining and homeware selection, while Orange, Jack & Jones and Bonobo have rolled out entirely new concepts. Lastly, Cultura will be opening very soon with 2,000 sq.m of space.
The inauguration of these three shopping center extensions marks the culmination of a year of operational excellence and success. Mercialys has rolled out 16,000 sq.m of additional rental space, which will generate a further Euro 3.3 million of full-year rent for a total investment of Euro 47 million, with an average yield on cost of 7.0% for this work.
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This press release is available on www.mercialys.com
Mercialys is one of France’s leading real estate companies, focused exclusively on retail property. At June 30, 2017, Mercialys had a portfolio of 2,108 leases, representing a rental value of Euro 174.6 million on an annualized basis. At June 30, 2017, it owned properties with an estimated value of Euro 3.7 billion (including transfer taxes). Mercialys has had “SIIC” real estate investment trust (REIT) tax status since November 1, 2005 and has been listed on Euronext Paris Compartment A (ticker: MERY) since its initial public offering on October 12, 2005. At June 30, 2017, there were 92,049,169 shares outstanding.
This press release contains certain forward-looking statements regarding future events, trends, projects or targets. These forward-looking statements are subject to identified and unidentified risks and uncertainties that could cause actual results to differ materially from the results anticipated in the forward-looking statements. Please refer to the Mercialys shelf registration document available at www.mercialys.com for the year ended December 31, 2016 for more details regarding certain factors, risks and uncertainties that could affect Mercialys’ business. Mercialys makes no undertaking in any form to publish updates or adjustments to these forward-looking statements, nor to report new information, new future events or any other circumstances that might cause these statements to be revised.