Henderson Global Investors, on behalf of its ca. 930 million European Retail Property Fund HERALD has submitted a request for the expansion of its retail site Kållered Köpstad which is located in the municipality of Mölndal, in Gothenburg, Sweden. Henderson has submitted a request to the urban planning department in order to obtain extended development rights for 80,000 m² of retail space.
Kållered Köpstad is located in the municipality of Mölndal, in Gothenburg.
All owners of the site have entered into a Partnership Agreement with the municipality, paving the way for the initial planning phase to commence for one of the most exciting retail development projects in Sweden. Once complete, Kållered Köpstad will be the premier retail location outside of central Gothenburg, creating a one-stop destination for consumers, who will benefit from a full range of retailers, while enjoying an easy and modern shopping experience.
Henderson plans to double its retail offering from its current 32,000 m² in order to deliver a hybrid retail scheme, totaling 64,000 m², which builds on the site's excellent location and strong catchment area.
Major improvements to the highways infrastructure are another key element to the scheme and its future success. The existing network will be improved with a new entrance and exit from the E6 which will be delivered to the North of the site.
David Turner, at Henderson Global Investors, commented: "In obtaining agreement from the municipality of Mölndal, we have reached a significant milestone for the planning process of this site. We look forward to engaging with all parties throughout the next stage of the process."
Johan Åström, Director of Property, Sweden, at Henderson Global Investors, commented: "The significant increase in retail space, combined with the quality of retailers that we are optimistic we will attract, as well as the surrounding infrastructure improvements give Kållered Köpstad the potential to become one of the most attractive retail destinations in Sweden."
It is expected that Henderson's scheme would be completed by the end of 2016.