Aalborg, Denmark, 2012-10-30 15:36 CET (GLOBE NEWSWIRE) -- 

Summary:

  -- TK Development has sold a retail park of about 8,300 m2 in Hemlingby,
     Gävle, Sweden.
  -- The retail park has been sold to Nordika Fastigheter AB, and the selling
     price amounts to SEK 110 million.
  -- The retail park opened on 25 October 2012, and the premises have been let
     to sound tenants.

Retail park in Gävle sold to Nordika Fastigheter AB

TK Development has sold the Group’s retail park in Hemlingby, Gävle. The retail
park has a total floor space of about 8,300 m², and the selling price amounts
to SEK 110 million. 

The buyer is Nordika Fastigheter AB, a Swedish property company that focuses on
generating long-term sustainable returns through active property management.
The company’s activities are based in Sweden, but its business strategy also
includes investing in Denmark and Finland. Nordika Fastigheter AB has been
capitalized with Swedish and Finnish pension funds. 

TK Development started construction of the retail park in December 2011.
Tenants have shown highly satisfactory interest, and the premises have been let
to the sound chains Rusta, Jysk, Stadium Outlet and Ö&B. 

TK maintains its profit forecast

The sale of the retail park in Hemlingby, Gävle, has been included in the
profit forecast for the current financial year. TK Development maintains its
profit forecast for 2012/13; see the Interim Report Q1–Q2 2012/13. 



Contact details:

TK Development A/S

Frede Clausen, President and CEO

Tel. +45 8896 1010