Skanska sells retail park project in Burlov

Swedish construction group Skanska said it has sold four retail warehouses at the Stora Bernstorp retail park in Burlöv outside Malmo to an unnamed German investment fund for an undisclosed sum. Construction of the 37,000 m² project, which is divided into four stages, was started in autumn 2007 and occupancy will be in two steps during the fourth quarter of 2008 and the second quarter of 2009. Contracted tenants include Coop Forum, Media Markt, Intersport, Flugger, Djurkompaniet, Sportex, Jula, Jysk and Sangkompaniet. The construction project is being carried out by Skanska Sweden. The group's investment in the ongoing project amounts to about SEK 585mln (EUR 62.5mln).

'We are very proud of being involved together with the Burlov Municipality in developing and establishing the character of a new part of Burlov. Previously, Skanska was involved in developing and building BMW's Nordic spare parts warehouse in the area, where we are now also developing a logistics center for Transfargo and a truck center for Volvo. Our leasing effort in Stora Bernstorp has been successful, and combined with strong demand from inventors, we chose to sell now and focus on future project opportunities,' commented Cecilia Fasth, president of Skanska Fastigheter Goteborg.

The company is listed on the Stockholm Stock Exchange. Skanska's sales totalled SEK 139bn in 2007.