TwentyTwo Real Estate sells Chasse Sud retail park at a prime yield
- Transaction completed with a fund managed by Hines following a competitive bidding process.
- Since 2021, TwentyTwo Real Estate has renewed or re-let almost 50% of the rental base, increased rental income by 20% and enhanced the property’s environmental performance.
- The transaction highlights institutional investor appetite for well-located European retail parks; TwentyTwo Real Estate will retain a property management and leasing coordination role.
TwentyTwo Real Estate, an independent European real estate investor and operator, announces the sale of Chasse Sud, an approximately 52,400 sq m (564,211 sq ft) retail park in Chasse-sur-Rhône, south of Lyon, to a fund managed by Hines. The property was held by an investment vehicle advised by TwentyTwo Real Estate.
Located south of Lyon with direct access to the A7 motorway, Chasse Sud benefits from a diversified and complementary tenant mix, including Intermarché, Decathlon, Conforama, Boulanger and Burger King.
Since 2021, TwentyTwo Real Estate has implemented an active asset management strategy focused on strengthening the tenant mix, extending lease maturities, increasing rental income and improving the environmental performance of the property. These initiatives have resulted in a 20% increase in rental income and the renewal or re-letting of approximately 50% of the rental base.
A key milestone in this strategy was the signing of a 12-year lease with Intermarché, strengthening its position as the retail park’s principal food anchor. Intermarché has also committed to a comprehensive refurbishment of its store.
The asset enhancement programme has included the installation of 24 Tesla electric vehicle charging points, alongside plans for solar canopies over the car park, which accommodates 1,500 vehicles. Chasse Sud has achieved BREEAM In-Use Excellent certification, reflecting the emphasis placed on improving its environmental performance.
European retail parks continue to attract institutional investors, benefiting from resilient occupier demand and the strength of convenience-led and value-oriented retail formats. The sale of Chasse Sud illustrates the appeal of well-located, actively managed retail assets offering secure income and long-term growth potential.
Nicolas Lutgé, CEO of TwentyTwo Asset Management, said:
“The sale of Chasse Sud marks the successful completion of an ambitious asset management strategy implemented since 2021. Through active leasing, rental growth and targeted improvements to the property, we have strengthened its positioning and transformed it into a high-quality institutional investment. We are particularly pleased to continue our involvement alongside Hines, providing property management and leasing coordination services to support the asset’s long-term performance and further value creation.”
The seller was advised by:
- Brokers: Newmark and Rothschild & co
- Notary: Wargny Katz
- Legal advisers: Archers
- Tax advisers: Lacourte Raquin & Associés
About TwentyTwo Real Estate
TwentyTwo Real Estate is an independent real estate investor and operator with €5.2 billion in assets under management in Europe. Founded in 2012 by Daniel Rigny, the group combines deep financial expertise with operational excellence to deliver value accretive investment solutions and management services to institutional and private clients across real estate asset classes. TwentyTwo Real Estate is committed to creating sustainable value for its investors, clients, and employees, while contributing positively to society and the environment.
Press Contact
TwentyTwo Real Estate
Dina Sanches – Communication Manager
M + 33 (0) 6 63 04 22 78 │dsanches@twentytwo.com
H/Advisors
Billy Moran – Associate Partner
M +44 (0) 755 491 2008 | billy.moran@h-advisors.global
