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Nordic Update

Acquires retail in Aarhus for 240 million DKK

Publicerad: 1 oktober 2018, 11:51

Central Aarhus. Photo: Wikipedia/Niels Elgaard Larsen.

Savills IM has acquired two retail properties in Denmark’s second city Aarhus. It is the company’s first Danish retail acquisitions outside Copenhagen. The seller in the transaction is Bark Århus Retail.

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AarhusSavills Investment Management

One of the properties is a project under construction, 5,295 sq.m. that are fully let to retailers such as Elgiganten and Sunset Boulevard. The property is expected to be completed on December 1st, this year.

The other investment is an equally big property, completed in 2009 and also fully let. In total, Savills IM pays 240 million DKK for the acquired properties which will be accessed on December 1st.

Danish media outfit, Estate Media reports that the deal is the second made by Savills IM’s Nordic Fund III, launched in 2017.

“In the coming years, we expect to invest more outside of Copenhagen, with Aarhus as an absolute priority as we expect the city to display a series of the tendencies we have observed in Copenhagen,” Morten Munkager Knudsen, head of Savills IM’s Danish operations is quoted.


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