Wereldhave statement on media reports about Hudson’s Bay
02 Settembre 2019 - 08:52AM
Wereldhave statement on media reports about Hudson’s Bay
Wereldhave statement on media reports about
Hudson’s Bay
Wereldhave has taken notice of recent media attention about the
possible intention of Hudson’s Bay Company (HBC) to close its
operations in the Netherlands by the end of 2019. Hudson’s Bay is a
tenant at one of Wereldhave’s properties, situated in the inner
city of Tilburg. Hudson’s Bay represents 1.2% of Wereldhave’s gross
rental income (as per 30 June 2019) and is the 10th largest
tenant.
Werelhave has not received any information from Hudson’s Bay
about potentially closing business at this location or terminating
the rental contract. The rental contract with HBC Netherlands B.V.
expires in 2037, with a Parent Company Guarantee provided by
Canadian Hudson’s Bay Company until 2027.
As Hudson’s Bay earlier publicly announced to investigate a
strategic move towards North America, Wereldhave has already been
exploring several scenarios for the Tilburg property. It is
situated on an A1-location in the sixth largest city of the
Netherlands in terms of population, which provides a good
perspective for multiple uses other than retail, such as offices,
leisure, residential and student housing.
Wereldhave will inform the market in case there are material
changes to the Hudson Bay situation.
Ruud van Maanen Director IR & Corporate
DevelopmentRuud.van.maanen@wereldhave.com+ 31 (0) 20 702 78 43
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