Ascencio announces the acquisition of the Horizon Provence retail park in Monteux, south-east of France, for €22.8 million excluding VAT.
Covering an area of more than 12,000 m², the retail park comprises around twenty retail units and is built around a first-class food offering, with the Super U chain and the Maison des Agriculteurs distributing products from more than 150 local producers. This dominance of food retailers, perfectly in line with Ascencio's strategy, is complemented by the presence of others such as Krys, Marie Blachère and Basic Fit, contributing to the site's balanced commercial mix.
The retail park is located in the heart of a fast-growing residential and tourist area in the Provence-Alpes-Côte d'Azur region. Its accessibility and visibility, along the main road linking Avignon to Carpentras, as well as its immediate proximity to numerous areas of interest (leisure parks, hotel complexes, etc.), make it an attractive retail complex.
In terms of sustainability, the asset is located close to soft mobility hubs (train and bus) and already benefits from a BREEAM certification. It is also equipped with 8 charging stations, almost 1,500 m2 of photovoltaic panels and around 1,000 m2 of shading systems.
This transaction, for an amount in line with the market value determined by the independent valuer, is financed entirely through borrowings using available secured credit lines. This acquisition will have an immediate positive annual impact of €0.07 on Ascencio's EPRA Earnings per share and will generate an increase of around 1.7% in its EPRA LTV ratio.
"This transaction is fully in line with the Company's strategy, which focuses on retail assets on the outskirts of towns, benefiting from a good commercial mix around strong food retailers in attractive areas. The integration of Horizon Provence illustrates Ascencio's selective and disciplined growth strategy, a creator of long-term value," comments Vincent H. Querton, CEO of Ascencio.
