Wereldhave's Luxembourg Acquisition: A Strategic Move for Growth and Value Creation

Wereldhave N.V. and its Belgian subsidiary, Wereldhave Belgium, have made a strategic move by acquiring two prominent shopping centers in Luxembourg: Knauf Shopping Pommerloch and Knauf Shopping Schmiede. This acquisition aligns with Wereldhave's LifeCentral strategy and acquisition criteria, positioning the company for growth and value creation in the long term.

The acquisition, valued at €167m including transaction costs, reflects a net initial yield of 8.0%, well above the cost of financing. This transaction has an immediate accretive impact on Wereldhave's direct result per share (DRPS), with an annualized impact of €0.05. As a result, Wereldhave has raised its full-year 2025 DRPS guidance to the higher end of the range of €1.70-1.80. The acquisition has a limited effect on financial leverage (EPRA LTV), indicating a balanced approach to financing the transaction.

Knauf Shopping Pommerloch, acquired by Wereldhave Belgium, is a 33,000 m² shopping center located in the heart of the Luxembourg Ardennes, near Bastogne in Belgium. The center houses circa 70 tenants, including notable brands such as Delhaize, New Yorker, C&A, H&M, Q8, La Varenne Group, Sportsdirect, and more. With an experienced Belgium team managing the assets, Wereldhave is well-positioned to enhance the center's performance and long-term success.

Knauf Shopping Schmiede, acquired by Wereldhave N.V., is a 41,000 m² shopping center located in the north of the Grand Duchy of Luxembourg, on the border between Luxembourg, Belgium, and Germany. The center is anchored by top-five Delhaize stores in the Benelux and offers strong potential for value creation through reversionary potential in leasing and transformation and development opportunities.



The acquisition of these two key centers in Luxembourg marks an important step in the growth phase of Wereldhave's LifeCentral strategy. Both assets meet the company's strict acquisition criteria and will deliver earnings accretion. Additionally, the centers strengthen Wereldhave's Full Service Center portfolio and offer strong potential for value creation, such as reversionary potential in leasing and transformation and development opportunities.

In conclusion, Wereldhave's acquisition of Knauf Shopping Pommerloch and Knauf Shopping Schmiede is a strategic move that aligns with the company's LifeCentral strategy and acquisition criteria. The acquisition offers strong potential for value creation and earnings accretion, with a limited impact on financial leverage. With an experienced Belgium team managing the assets, Wereldhave is well-positioned to enhance the centers' performance and long-term success.