Cordea Savills buys Swedish property
Cordea Savills has acquired a retail property in a suburb of Stockholm for €32m for its European Retail Fund.
The property is fully let to 14 tenants, who are signed to inflation linked leases. Anchor tenant is Coop, a supermarket.
Peter Brostrom, director of Investment in the Nordic region, said that the area provided resilient local spending, and that there is potential to maximise the value of the asset by “optimising the tenant mix, which will improve sales and increase footfall”.
Ian Jones, director of Investment said: “We are delighted to add another first class Nordic asset following the recent acquisition in Copenhagen. The fund now has assets in the major European cities of Berlin, Paris, Glasgow, Birmingham, Hanover, Copenhagen and Stockholm, with leading tenants including HSBC, Kaufland, Tiffany, Edeka, Dixons and H&M. We look forward to further acquisitions in the coming months.”