The Olav Thon Group - hotels - retail property - real estate

A subsidiary of Thon Eiendomsselskap ASA has today signed an agreement concerning the acquisition of a property portfolio consisting of the following five shopping centres in Sweden.

Publisert: 18.06.2014
  • Sollentuna, Stockholm
  • Mitt i City, Karlstad
  • Mirum, Norrköping
  • Etage, Trollhättan
  • Familia, Hyllinge

The total price of the portfolio is bases on a property value at 3.25 billion, which is to be covered by drawing on liquidity reserves and new borrowing.

 

The centres are being sold by Steen & Strøm Sverige AB.

 

The acquisition will take effect on 1 July 2014.

 

The shopping centres have a total retail space of around 122,000 square metres. In 2013, total store turnover amounted to approx. SEK 3.6 billion.

 

Key facts about the shopping centres

Sollentuna Centrum, Stockholm

Located in Sollentuna, a suburb of Stockholm situated approx. 10km north of the city centre.

  • Around 6.5 million visitors
  • 103 stores, with a retail space of 35,713 square metres
  • Store turnover in 2013 of SEK 1,228 million
  • The centre was considerably extended and altered in 2010

 

Mirum Galleria, Norrköping

Norrköping is a growing industrial city located approx. 170km southeast of Stockholm.

 

The centre is situated just outside the city centre. Norrköping is Sweden's tenth largest city.

  • Around 5.5 million visitors
  • 67 stores, with a retail space of 39,122 square metres
  • Store turnover in 2013 of SEK 1,000 million
  • The centre was considerably extended and altered in 2010

 

Mitt i City, Karlstad

The shopping centre is situated in the centre of Karlstad and forms a key part of the services offered by the city.

 

Karlstad is Sweden's seventeenth largest city.

  • Around 5.5 million visitors
  • 51 stores with 16,010 square metres of retail space
  • Store turnover of SEK 614 million in 2013

 

Etage, Trollhättan 

Trollhättan is a city in the county of Västra Götaland with approx. 45,000 inhabitants.

 

The centre is an important part of Överby's retail sector with its location along the arterial E45 European route.

 

  • Around 2.5 million visitors
  • 42 stores, with a retail space of 16,604 square metres
  • Store turnover in 2013 of SEK 428 million

 

Familia, Hyllinge

Hyllinge is a town situated approx. 140km outside Helsingborg. Helsingborg is Sweden's eighth largest city. The centre is situated next to the E4 European route.

 

  • Around 2.2 million visitors
  • 45 stores, with a retail space of 15,769 square metres
  • Store turnover in 2013 of SEK 285 million

 

As owner of Nordby Shoppingcenter, Tocksfors Shoppingcenter and Charlottenberg Shoppingcenter, the Olav Thon Group already has a substantial engagement in the Swedish shopping centre market. The acquisition of a further five shopping centres, which forms part of a strategic decision concerning further expansion in our neighbouring country, will position the Group as one of the largest companies in this market.

 

In connection with the acquisition of the centres, the Olav Thon Group will establish its own management company in Sweden (Thon Fastigheter AB), which will be responsible for the combined Swedish property portfolio. The company will also carry out management assignments on behalf of other property companies.

 

After the acquisitions, the Olav Thon Group's Swedish shopping centres will comprise approx. 350,000 sq. m. of building complexes and a total store turnover of around SEK 12.5 billion.

 

www.thoneiendom.no

If you have any questions, please contact:

Ole-Christian Hallerud    
Property Development Director
Tel: (+47) 23 08 01 18/920 164 28
ole.hallerud@olavthon.no

Dag Tangevald-Jensen
CEO
Tel: (+47) 23 08 02 06/926 97 620
dagtj@olavthon.no

Arne B. Sperre
Finance Director
Tel: (+47) 23 08 02 05/926 97 622
arneb.sperre@olavthon.no