Grosvenor Europe has sold Burlov Center and surrounding land in Malmo, Sweden to a local investor Trianon, acting in a joint venture with Wallfast. The centre offers 43,000m² of retail space and benefits from parking facilities. Anchor tenants include Maxi ICA supermarket, H&M, the government-owned alcohol chain Systembolaget and a Nordic Wellness gym. The vibrant heart of the local community, the scheme is a part of a large urban development project, which will see the rejuvenation of the public realm, increased transport links and the development of residential accommodation surrounding the asset in the near term. The purchase price was not disclosed.
Car Strufve, Director, Nordics, Grosvenor Europe, commented: “Our goal has always been to make our retail-led assets into dynamic mixed-use schemes which serve the wider needs of the community. At Burlöv, we have been able to deliver substantial improvements and work with the local municipality to secure further development potential, which will create an enhanced sense of place for the local community. 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.”