Savills Investment Management Sells Almere Retail Asset to Bouwinvest Dutch Institutional Retail Fund

Savills Investment Management (Savills IM) has sold a prime retail property in the centre of Almere, the Netherlands, to Bouwinvest Dutch Institutional Retail Fund, the firm announced Oct. 8. The fully let asset was sold on behalf of the international real estate investment manager's European Fund V – Retail.

Almere Retail Property Details

The 4,600 sqm building is located on Stationsstraat, a prime pedestrian high street in Almere's shopping area. The asset comprises three units let to international retail tenants C&A, JD Sports and Courir, all described by the seller as long-standing occupiers.

The building carries an EPC A+++ rating and a BREEAM In-Use 'Good' certification. It was originally constructed in 1988 and underwent a large-scale renovation in 2016.

Hold Period and Asset Management

European Fund V – Retail acquired the property in 2018. During the hold period, Savills IM executed an active asset management programme that delivered an additional unit, secured several lease renewals and enhanced the building's sustainability profile, the firm said. Savills IM manages €25.5 billion of assets in Europe and APAC.

European Fund V – Retail holds a diversified portfolio of high street, retail park and shopping centre assets in well-connected locations across Europe. The fund targets properties with resilient income profiles and strong tenant covenants. It forms part of Savills IM's wider €4.9 billion retail portfolio, which includes more than 380 assets across 12 countries through various funds and mandates.

Comments From Savills Investment Management

Edgar Hertog, Co-Head of Netherlands at Savills IM, said: "This disposal highlights continued strong demand for high quality retail assets in key European markets. Our hands on asset management approach, combined with our excellent local market expertise and network, enables us to unlock value and deliver attractive outcomes for our clients."

Ian Jones, Fund Director at Savills IM, said: "Our careful and disciplined approach to asset selection has enabled us to achieve liquidity and deliver a successful exit for our institutional capital partners."

Dutch Retail Investment Market Context

The sale comes as Dutch retail investment conditions have improved. Retail investment volume reached approximately €1.5 billion, with shopping centres accounting for 36% of the total, while prime net initial yields remained broadly stable rather than compressing materially. CBRE expects retail investment volume to rise to approximately €1.6 billion, supported by limited supply, low vacancy, minimal new development and population growth.

Savills reported Dutch retail vacancy of 5.8%, down from 5.6% in the first quarter of 2025 as presented in its market report, and a 3.4% year-over-year increase in median retail rents in 2025.

Across the wider Dutch market, real estate investment volume reached €14.5 billion in 2025, up 19.1% year over year. Savills expects Dutch investment volume to exceed €16.5 billion in 2026. Prime net initial yields were broadly unchanged across most Dutch sectors in 2025.

Market Implications

For Bouwinvest Dutch Institutional Retail Fund, the purchase adds an income-producing retail property on a prime pedestrian street to its Dutch portfolio. For Savills IM, the transaction crystallises the result of an asset management programme carried out over the period European Fund V – Retail held the property, which the firm said enabled it to deliver liquidity to its institutional capital partners.

Sources

• Savills Investment Management: Savills Investment Management sells prime retail asset in Almere to Bouwinvest Dutch Institutional Retail Fund