DTZ's Retail Services team is pleased to announce it has won the asset management mandate for the property company Nordic Land plc. The mandate includes transactional services as well as the day-to-day property and technical management of Nordic Land's property portfolio in Sweden.
The existing portfolio includes 'Knutpunkten' at Terminalen 1 in Helsingborg, a large mixed-commercial use building, a retail park in Lackeraren, Borlänge, and a retail scheme in Nacka, Stockholm. The properties together comprise approximately 32,900 m² and include over 140 tenants.
Ian Knight, Managing Director of Nordic Land, said: "We chose DTZ because of their proven ability to create value. Their depth of management means they can provide fast and competent responses to our needs. We have had extremely good experience working together over many years in Sweden, the UK and the rest of Europe."
The property Knutpunkten is Helsingborg's central transportation terminal, and has 18 million travellers passing through it yearly. Accommodation primarily consists of office space, the Scandline Ferry terminal, the town's main train and bus stations, as well as a variety of shop, service and restaurant outlets. Upgrading of the retail and restaurant sections of the terminal have already begun.
Kevin Havill, head of Retail Services for DTZ in Sweden, said: "Nordic Land has an interesting portfolio and a strong ambition to both improve and expand their holdings in Scandinavia. Together we will maximise the value of the portfolio, I am convinced of that."
DTZs new Retail Services team started in the autumn of 2008 with a prestigious asset management contract for the German property fund Commerz Real Investmentsgesellschaft. The assignment is for the lifestyle center Malmö Entré, opening in March of 2009.