Dutch developer Peter van Dijk Projects & Investments has acquired a part of De Weiert shopping centre in the Dutch town of Weert from the railway pension fund. The investment volume is believed to be in the region of EUR 48 mln. Sources told PropertyNL - the sister publication of PropertyEU - that the net initial yield comes to 7%.

The transaction relates to the southern portion of the mall which was opened in 1961. Just under 2,300 m3 of the 13,000 m2 retail area is vacant.

The shopping centre was redeveloped and expanded by William Properties in 2001-2. The centre comprises a total of 63,000 m2.