The blended premium of the sales prices reflects a premium to the latest IFRS fair value in excess of 15 per cent.
In Finland, Citycon is selling the Talvikkitie 7-9 property comprising ca 8,700 sqm in Vantaa (Helsinki), a vacant former retail property where a new zoning plan has gained legal force. The new zoning plan will allow for the construction of around 19,500 sqm of new residential units on the existing plot where the current property stands. The current property will be demolished. Citycon is selling the property to YIT.
In Sweden, Citycon is selling Kallhäll 9:18, a grocery store property comprising ca 3,700 sqm located in Kallhäll (Stockholm) to a private investor.
“With these divestments, Citycon is continuing to implement its strategy to focus on grocery-anchored shopping centres and divest smaller retail properties and non-core shopping centres.,” says Nils Styf, Chief Investment Officer at Citycon.
Citycon Sells Two Properties in Finland and Sweden
Finland — Citycon has entered into contracts to divest two properties located in Tikkurila in Vantaa and Kallhäll in Stockholm. The total sales price for the two properties is around € 14 M.