Kenmore currently has a portfolio in excess of €85 million across Belgium, mainly in the retail warehousing and light industrial sectors. We opened our first Belgian office in Antwerp in June 2007, headed by Investment Director, Alexandre Van Haver.
Prior to June 2007, Kenmore had a 50/50 joint venture partnership with Trading Places, a local management company, providing the business with an established and extensive knowledge of the local market. In June 2007, we purchased the remaining 50% to form the basis of our new Belgian operations.
Kenmore made its first purchase of a mixed use 112,000 sqm portfolio in October 2004 for £27 million (€40 million) in a joint venture with Revcap. This portfolio includes office, retail warehousing and light industrial accommodation located within the Brussels, Antwerp, Ghent triangle.
Kenmore has now embarked upon a series of value enhancement initiatives to improve the operational efficiency and performance of the individual properties.