Stockmann is investigating a possible divestment of its Book House property
STOCKMANN plc, Inside Information 2.1.2018 at 9:00 EET
The Stockmann-owned Book House property in Helsinki city centre is entirely in external partners’ use as of 1 January 2018, when Stockmann Delicatessen’s business operations were transferred to the S Group.
Since Stockmann is no longer practising retail business in the property, the Book House has been reclassified as an investment property in the company’s balance sheet at 31 December 2017. Stockmann’s Board of Directors has also decided to investigate a possible divestment of the Book House property.
The Book House, which is designed by architect Alvar Aalto, has a gross leasable area of 8 861 square meters, and the largest tenants are Bonnier Books (Academic Bookstore), HOK-Elanto (Stockmann Delicatessen), Isku Invest (Sisustusmaailma) and Technopolis (UMA Esplanadi). In addition, the property has several other store and office tenants.
The investigation process related to a possible divestment of the Nevsky Centre shopping centre in St. Petersburg continues.
Björn Teir, Director, Real Estate tel. +358 50 553 5108