Aviva Investors has acquired Kolding Retail Park, a food-anchored retail park in the Triangle Area of Jutland, Denmark. Kolding Retail Park, which comprises a total area of around 11,000m², was completed in 2021 and offers excellent sustainability credentials, with an ECP rating of ‘A’. Further improvements are being made to the property, which already has roof-top solar panels through the installation of EV charges in the parking area, which will contribute to better energy efficiency, lower ongoing fuel requirements, and lower running costs for occupiers. The property is fully let with a strong tenant mix of Danish household names offering a WAULT of 11.3 years. Existing occupiers include Rema 1000, Power, Maxi Zoo, Sport 24, Harald Nyborg, Wash World, Sunset, and T. Hanse, offering consumers a complementary mix of grocery, pet, car, and discount retail.
The property is strategically situated across from one of the country’s leading shopping centres, which will drive footfall to the asset. It also benefits from excellent transport links, located at junction 64 of the E20 and E45 motorway intersections, and served by a number of public bus services in the region.
George Fraser-Harding, Head of European Funds at Aviva Investors, said: “This acquisition builds out further the assets under management in Denmark as we continue to focus on investing in high quality buildings, in attractive locations. The investment will deliver strong income returns for our clients utilising the attractive Danish mortgage system. Whilst the completion of this deal is reflective of our ambitions in continental Europe, it is also aligned with Aviva Investors’ wider decarbonisation strategy, concentrating on energy efficient buildings, which benefit the environment and our occupiers.”