Danish listed real estate company TK Development has entered into an option agreement to acquire a property zoned for a shopping centre scheme in Odense, Denmark. The agreement also covers parts of Karre 3 mixed-use scheme in the same area.
Danish listed real estate company TK Development has entered into an option agreement to acquire a property zoned for a shopping centre scheme in Odense, Denmark. The agreement also covers parts of Karre 3 mixed-use scheme in the same area.
The property is owned by a subsidiary of Oslo-listed Fornebu Utvikling.
The group has properties in Odense that includes a total of 112,000 m2 for shopping, offices and residential purposes, and an additional 65,000 m2 parking.
The option agreement includes two elements, and gives TK Development the right to buy the 40,000-m2 shopping centre property for DKK 160 mln (EUR 21 mln), and as well the right to buy up to 18,000-m2 shopping and office area of the Karre 3 for DKK 54 mln. The options must be exercised on or before 28 February 2011.
