Paris, Amsterdam, 2015-10-3 — /EPR Retail News/ — Further to the agreement with TH Real Estate entered into on March 5, 2015, Unibail-Rodamco announces the completion of the disposal of Nova Lund shopping centre (Lund, Sweden). The total acquisition cost(1) amounts to SEK1,635 Mn (€176 Mn) (2) , representing a net initial yield(3) of 5.5% and an average value per m2 of SEK63,155 (€6,791/m²) (2) . Terms of the transaction are as announced in March 2015.
Constructed in 2002, Nova Lund, a 25,889 m2 shopping centre, is located in Lund (20 km northeast of Malmö), in the south of Sweden and attracts between 2-3 million visits per year.
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Created in 1968, Unibail-Rodamco SE is Europe’s largest listed commercial property company, with a presence in 12 EU countries, and a portfolio of assets valued at €35.7 billion as of June 30, 2015. As an integrated operator, investor and developer, the Group aims to cover the whole of the real estate value creation chain. With the support of its 2,085 professionals, Unibail-Rodamco applies those skills to highly specialised market segments such as large shopping centres of major European cities, and large offices and convention & exhibition centres in the Paris region. The Group distinguishes itself through its focus on the highest architectural, city planning and environmental standards. Its long term approach and sustainable vision focuses on the development or redevelopment of outstanding places to shop, work and relax. Its commitment to environmental, economic and social sustainability has been recognised by inclusion in the DJSI (World and Europe), FTSE4Good and STOXX Global ESG Leaders indexes. The Group is a member of the CAC 40, AEX 25 and EuroSTOXX 50 indices. It benefits from an A rating from Standard & Poor’s and FitchRatings.
For more information, please visit our website: www.unibail-rodamco.com
(1) Including transfer taxes and transaction costs.
(2) Using the exchange rate of 1 EUR = 9.3 SEK
(3) Annualised contracted rent including indexation for the next 12 months, net of operating expenses, divided by the asset value.