The conditional sale of 65 % of the BROEN shopping centre in Esbjerg, Denmark, will now be completed.
The sale was subject to the condition that a so-called CSM approval was obtained which is a validation and approval procedure relating to the project to ensure safe railway operations.

The process to obtain this approval has been under way for a prolonged period, and TK Development has now been informed that the approval has been granted by The Danish Transport Authority.

Accordingly, the conditional agreement with CapMan Real Estate will be completed and become unconditional.

In recent months preliminary construction works have been carried out that were useful to have completed prior to actual project construction. Headed by design build contractor KPC, construction will now be initiated, and as most recently announced the shopping centre is expected to be completed in spring 2017.