Grosvenor sells Malmö's Burlöv Center to local investor
Grosvenor Europe has sold its regional shopping centre in Malmö, Sweden, to concentrate on its core malls in the capital Stockholm.
The decision sees the group selling the 43,000 square metre Burlöv Center and surrounding land in Malmö for an undisclosed sum to a locally-based joint venture bid from Trianon and Wallfast. The mall is anchored by H&M and also hosts Dressman XL, KappAhl, Ecco and Lindex, among others.
Grosvenor Europe, part of the UK premier retail landlord Grosvenor Group, which owns swathes of property in London’s West End, purchased the centre in 2011 from Unibail-Rodamco.
“At Burlöv, we have been able to deliver substantial improvements, and work with the local municipality to secure further development potential”, said Car Strufve, director, Nordics, for Grosvenor Europe.
He added: “Having secured a strong future for the asset it is time that we focus our activities on our core cities, which in the Nordics is Stockholm”.
Grosvenor Europe develops, operates and manages real estate assets, with a focus on cities including Paris, Stockholm, and Madrid.
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