NCC has sold two retail properties for SEK 99 million (approx. €9.9 million). The divestments are retail properties, one in Kolding and one in Hillerød, Denmark. Transfer of ownership took place in December 2013. The sales generated a positive impact on earnings during the last quarter 2013.
It is rewarding to see that our properties find solid buyers. In particular since the market situation for retail properties in Denmark has been tough the last years. I believe that this is proof that the properties we develop have good value for investors, says Carola Lavén, Business Area Manager, NCC Property Development.
In Hillerød, the property of the Herreds Center was sold to AKF Group. The property is fully let to IDEmøbler, Sengekompagniet, My Home, Euromaster Danmark, iWash and Haahr Benzin. After this sale, NCC still owns a part of the Herreds Center which offers the possibility of developing some additional 21,000 m² of retail space.
The second sale is a so called big box in the Kolding Retail Center. The property is let in its entirety to jem & fix. The buyer is K/S Skovvangen 49.
The sales had positive impact on earnings in the last quarter in 2013 and will be recognized in profit in the NCC Property Development business area.