Citycon acquires the second part of shopping centre Straedet in the Copenhagen area
CITYCON OYJ Investor News 21 December 2017 at 9.00 hrs
Citycon has acquired the second and the largest part of the shopping centre Straedet in Køge in the greater Copenhagen area for approximately EUR 60 million today. Citycon acquired the first part of the shopping centre in July for approximately EUR 12 million and the final part is expected to be acquired during Q2/2018. In total, the shopping centre will have a gross leasable area of approximately 19,000 sq.m. Straedet will in total comprise some 40 retail units, cafés and restaurants and will be anchored by two grocery retailers, fashion stores like H&M and a cinema. The open-air shopping centre is an integrated part of a new high street loop with pedestrian streets in the centre of Køge. The property has a direct connection with the refurbished city hall and other municipal services as well as the train and bus stations.
Køge forms part of the Copenhagen metropolitan area and is directly connected to downtown Copenhagen by commuter rail system. Køge has strong demographics with a disposable household income higher than the average for the Copenhagen municipality. The city’s old town and harbor is a popular destination for Danish and foreign tourists.
“Straedet fits perfectly with Citycon’s strategy to invest in urban shopping driven by daily needs and situated in locations with strong demographics,” says Marcel Kokkeel, CEO at Citycon.
For further information, please contact:
Marcel Kokkeel, CEO
Tel. +358 40 154 6760
Executive Vice President and CFO
Tel. +358 50 557 9137
Citycon is a leading owner, manager and developer of urban, grocery-anchored shopping centres in the Nordic and Baltic region, managing assets that total almost EUR 5 billion and with market capitalisation of close to EUR 2 billion. Citycon is No. 1 shopping centre owner in Finland and among the market leaders in Norway, Sweden and Estonia. Citycon has also established a foothold in Denmark.
Citycon has investment-grade credit ratings from Moody's (Baa1) and Standard & Poor's (BBB). Citycon Oyj’s share is listed in Nasdaq Helsinki.