In December 2021, TwentyTwo Real Estate acquired Chasse Sud, a retail park covering 52,000 sqm located in Chasse-sur-Rhône, 25 km South of Lyon.
Three years on, TwentyTwo Real Estate is proud to unveil the exceptional results achieved at this site thanks to the execution of its strategic vision, highlighted by a key achievement: the recent signing of a 12-year firm lease with Intermarché.
Intermarché: A cornerstone of the site’s transformation
Succeeding Casino as the primary food anchor, Intermarché has committed to an ambitious restructuring and modernisation programme for the hypermarket. This substantial investment is aimed at creating a customer experience that meets the highest contemporary standards and supports Chasse Sud’s transformation into a premier retail destination.
A strategy for sustainable growth and performance
Since the acquisition of Chasse Sud, TwentyTwo Real Estate has signed or renewed over 15 leases with prominent brands such as Intermarché, Burger King, Action, Bricomarché, Gémo and Decathlon. These leases now account for approximately 50% of the rental income, with an additional 20% already in advanced renewal stages.
Nicolas Lutgé, Director of Commercial Asset Management at TwentyTwo Real Estate, comments:
“Thanks to the exceptional appeal of Chasse Sud, we have attracted new tenants, increased the total rent by 14% and significantly extended the WALB (Weighted Average Lease Break) of the site. Under our management, the site is now stabilised with secure and sustainable cash flow.”
Modernisation with an ESG focus
Taking advantage of Chasse Sud’s prime location, highly visible and accessible from the A7 motorway, TwentyTwo Real Estate has installed Tesla rapid charging stations for electric vehicles. This forward-thinking initiative not only enhances the site’s appeal but also reduces its environmental footprint. Additionally, an ambitious energy improvement program is underway, with the installation of photovoltaic canopies in the car parks, marking a significant step toward sustainability.
A promising future for Chasse Sud
TwentyTwo Real Estate continues to focus on increasing the site’s value by refining its merchandising plan and commercial offerings. Among the top priorities are expanding complementary services in health and leisure, with new brands already expressing interest in joining the site. With these strategic efforts, Chasse Sud is well positioned for continued success and growth.
About TwentyTwo Real Estate
TwentyTwo Real Estate is an independent real estate investor-operator with €4.8 billion in assets under management across Europe. Founded in 2012 by Daniel Rigny, the group combines financial expertise and operational excellence to offer its institutional and private clients a range of value-accretive investment solutions and management services across all real estate asset classes. TwentyTwo Real Estate’s mission is to build sustainable value for its investors, clients, and employees, while having a positive impact on society and the environment.
For more information, visit: www.twentytwo.com
Press contact
TwentyTwo Real Estate
Dina Sanches – Communication Manager
M + 33 (0) 6 63 04 22 78
