Eurocommercial Properties N.V. announced that it has signed a binding contract to purchase the Woluwe shopping centre situated in the municipality of Woluwe-Saint-Lambert, Brussels. The announcement follows a period of exclusivity which started in October 2017, during which the company and its advisors conducted detailed due diligence on the shopping centre, its catchment and the potential for future development. The purchase is expected to be completed at the end of February 2018. Woluwe (also known as "the W shopping") is the best-known shopping centre in Brussels. It is situated in Woluwe-Saint-Lambert, an attractive and affluent municipality situated to the east of Brussels city centre and surrounded by other wealthy municipalities such as Evere, Etterbeck and Woluwe-Saint-Pierre. The shopping centre is just 7km from Zaventem international airport, is served by excellent main roads and has 1,953 car parking spaces. It has its own metro station with a direct link to Schuman and the European Parliament just six stops away on Line One. A tram line is opening next year, with a stop directly outside the Woluwe centre, which also has good bus links. The centre attracts 6.5 million visitors each year and has an estimated catchment population of over one million people. The shopping centre is let to major international brands, including Zara, Massimo Dutti, H&M, Zara Home, Superdry, Aigle, Calzedonia, Nespresso, Nature & Découvertes and C&A. It features a food court hosting Exki, the international chain of healthy fast food restaurants, along with other high-quality restaurants and delicatessens. Retail sales in the centre average 8,000 per m² and the occupancy cost ratio is in the region of 13%. The centre has a strong track record, with a 100% occupancy rate for the past 20 years and exceptional interest from retailers looking to enter the centre.