Company announcement no. 15/2013

Aalborg, Denmark, 2013-06-13 08:27 CEST (GLOBE NEWSWIRE) -- 

Summary:

  -- TK Development has sold a retail park project of about 20,000 m2 in
     Barkarby, Stockholm, Sweden, based on forward funding.
  -- The project has been sold to a fund managed by Cordea Savills.
  -- The retail park named “Barkarby Gate” is expected to consist of 12-14 units
     and the current occupancy rate is 73 %.



The retail park project, “Barkarby Gate” in Barkarby, Stockholm, is sold -
based on forward funding 

TK Development has sold the Group’s retail park project in Barkarby, Stockholm.
The retail park will have a total floor space of about 20,000 m˛, and the
current occupancy rate is 73 %. Lease agreements have been concluded with major
tenants such as XXL (sports goods shop), Clas Ohlson, Lager 157, Grizzly, Kjell
& Co., Burger King, and Nordic Wellness. 

The buyer is a fund managed by Cordea Savills. Cordea Savills is an
international property investment manager with offices across Europe and in
Asia. Cordea Savills is 100 % owned by Savills, a leading international
property consultancy. As at 31 December 2012, Cordea Savills and other Savills
Group companies managed a total of EUR 8,222 million of gross assets on behalf
of pension funds, insurance companies, charities/endowments, fund of funds,
qualified professional investors and family offices. 

TK Development expects to start construction of the retail park in August 2013,
with the opening scheduled for autumn 2014. 

TK Development maintains its profit forecast for the current financial year.



Contact details:

TK Development A/S

Frede Clausen, President and CEO

Tel. +45 8896 1010