Eurocommercial Properties has agreed to buy the Les Grands Prés shopping centre in Mons, Belgium, from Union Investment for €265m, the Euronext-listed retail landlord said after the market closed on 29 October 2026.
Why Eurocommercial Properties N.V. is buying Les Grands Prés shopping centre, Mons (from Union Investment)
Les Grands Prés becomes Eurocommercial's second Belgian centre after Woluwe Shopping in Brussels and its sixth flagship asset. The company plans a remerchandising programme to grow rental income and says the off-market deal is earnings accretive from day one.
“Les Grands Prés is a strong fit with Eurocommercial’s DNA and another flagship for its property portfolio”
Deal terms and financing
The €265m covers all shares in the company owning the centre and repayment of the shareholder loan, at an initial investment yield of 7.5%. Funding comes from a non-pre-emptive placing of 5.2 million new shares, which raised €128.4m, plus existing resources and credit lines. Pro forma net loan-to-value rises to about 42.1% from 41.5%.
Regulatory approvals and timing
Closing is expected by 4 November 2026.
Market context
The 27,000m² gallery opened in 2003 and was expanded between 2014 and 2016. It connects to a 35,500m² IKEA and sits beside a Carrefour hypermarket and a retail park, none of which are included. Eurocommercial owns 25 shopping centres in Belgium, France, Italy and Sweden with total assets of €4.2bn.
