NewGround Law advised PingProperties on the sale of Passage Schiedam, the largest covered shopping centre in Schiedam, to real estate investor Meerdervoort. The transaction was completed in June 2026.
Located in the historic city centre of Schiedam, Passage Schiedam comprises approximately 18,100 sqm of lettable floor area, spread across 50 retail units, and includes a five-storey parking garage with 280 parking spaces. The shopping centre accommodates a diverse range of retailers, including Hema, Action, H&M, Wibra, Scapino, Nelson and Istanbul Supermarkt.
Over the past five years, PingProperties has successfully repositioned and optimised the shopping centre through active asset management, improvements to the tenant mix and significant investments in sustainability and technical installations. These initiatives have resulted in a fully let shopping centre, attracting nearly three million visitors in 2025, representing a 12% increase compared to the time of acquisition.
The property was acquired by Meerdervoort, a Dutch real estate investment company specialising in multi-tenant properties. Its portfolio comprises residential, healthcare, office and retail properties throughout the Netherlands.
Cynthia de Witt Wijnen and her team of NewGround Law acted as legal advisor to PingProperties on the transaction, alongside Kokelenberg & Ouwehand as commercial advisor and Newtone as tax advisor.
This transaction demonstrates NewGround Law’s expertise in advising on complex commercial real estate transactions and supporting clients in the successful disposal of repositioned real estate assets.