The performance of investments made by CORUM is not a reliable indicator of future results.
Vila Nova de Cerveira - Portugal
These 5 newly-constructed supermarkets of the leading brand Pingo Doce are located in northern Portugal, near Porto (see map). The stores have floor areas ranging from 4,300 sq.m to 4,800 sq.m. The supermarkets are located on strategic roads linking in particular Porto to Spain. They cover a Portuguese and Spanish population of over 450,000 inhabitants and two of them are located near the Spanish border where they enjoy strong inflows of Spanish residents coming to Portugal to do their shopping. The supermarkets cover a catchment area of more than 30 municipalities.
This investment generates a net initial yield* of 7.78% (incl. transfer tax and brokerage fees).
Tenants Pingo Doce
The Pingo Doce brand is owned by the Jeronimo Martins group, a leader in the supermarket segment not only in Portugal but also in Poland, and which has strong ownership links with Unilever, the other food retail giant. Pingo Doce is the second largest supermarket chain in Portugal with 369 supermarkets. The group posted revenues of nearly €12bn and employs 80,000 people. It is a historically profitable brand and it increased its sales by 7% in H1 2014.
Acquisition price (incl. transfer tax and brokerage fees)
Net initial yield*
7,78% (incl. transfer tax and brokerage fees)
* Net initial yield: Annual rent divided by acquisition price including transfer tax and brokerage fees.