LANGEMUNT 55 – 57, GHENT
LMD SA, a Specially Intended Vehicle (SPIV) created specifically for this project, has purchased the above properties, and obtained a building permit to unite both premises into one commercial property, whereby ground floor and first floor are destined for retail and the ancillary spaces will be used for the specific needs of the tenant, i.e. full kitchen, fridges and bake-off facilities, as well as storage, and personnel dedicated facilities.
The tenant, Panos (www.panos.be) belongs to the La Lorraine bakery group and is the market leader in prepared sandwiches and other related bakery products, with over 250 locations in Belgium. It further has stores in The Netherlands, Czech Republic, Poland, Slovakia, Taiwan, and the U.A.E.
The transformation and unification of both buildings was done in full cooperation and intelligence with the tenant and their technical and design teams.
LMD SA will deliver the premises in ‘core shell plus’ condition, and the tenant will fit out the premises, including the installation of a service elevator.
Although the premises will be operated by a franchisee, it is the franchisor (Deli NV, a wholly-owned subsidiary of the La Lorraine Bakery Group) who is the tenant and the guarantor. Panos was absolutely adamant to secure this location (opposite Primark on the busiest pedestrian shopping street of Ghent), given their excellent experiences whenever they are located in Primark’s vicinity.
Furthermore, this location, in the heart of the historic part of town has the tremendous advantage of a waterfront location, enhancing the ‘on location’ experience in no small way.
The present pictures are of the location prior to the renovation and after renovation and unification of said properties.
These works started in June 2019 and the handover to the tenant is on October 11, 2019. All works are undertaken in agreement and under supervision of the historic and preservation department of the City of Ghent.
Further details, plans, and balance sheets can be made available in a further stage.