Sjælsø Gruppen sells retail projects to Investea for DKK 100 mln. (DK)

Sjælsø Gruppen has signed an agreement with Investea for the sale of two retail projects in Svendborg at a purchase price of around DKK 100 mln. (approx. €12.4 mln.) The purchaser will take over the projects during the first half of 2008.

On an attractive site at Svendborg Storcenter, a new, modern furniture store of approximately 5,000 m² will be built for IDEmøbler. A rental agreement has been signed with Gera Møbler, IDEmøbler's local franchisee. IDEmøbler which is Denmark's largest retail chain for furniture, home accessories, lighting etc., comprises more than 30 stores across Denmark.

A new SILVAN of approx. 3,000 m² external facilities, will be built in the newly established retail centre at Ole Rømers Vej. One of Denmark's leading DIY chains, SILVAN operates approx. 40 stores in Denmark. SILVAN is part of DT Group A/S, which is one of the Nordic region's leading distributors of building materials for both the professional and DIY markets.

Source: Hugin

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