Køge, Denmark

Adjacent to Køge Station and the town centre shopping area, TK Development is building a project of about 34,300 sqm, comprising a retail project of about 19,000 sqm, public service facilities of just under 9,000 sqm, including a town hall and a rehabilitation centre, and residential units of about 6,300 sqm. In addition, the project comprises parking facilities of about 13,000 sqm. The building rights for the town hall and the rehabilitation centre have been sold to Køge Municipality. 

The retail project of about 19,000 sqm has been sold under a conditional sale agreement to Finnish-based Citycon together with parking facilities of about 13,000 sqm. The project will be handed over to Citycon in three phases. The first phase, comprising a cinema and restaurants, was completed in May 2017 and will be handed over to the buyer in July 2017. The main part of the project is expected to be completed and handed over in autumn 2017, while a minor part is scheduled for completion in 2018. The sale to Citycon is expected to have a significant positive impact on results for the 2017/18 financial year as the completed part of the project is handed over to the investor.

The current occupancy rate for the total retail project is 88%. Tenants include Irma, Fakta, H&M, Bones, Kings & Queens, Sportigan, Wagner, Gina Tricot, Deichmann and a six-screen Nordisk Film cinema. 

In the context of the 6,300 sqm residential project, TK Development is currently working on the development of about 3,000 sqm of housing units in Rådhusstrædet. A total of 28 residential units will be constructed, consisting of both owner-occupied units and two-storey town houses. The pre-completion sale has begun. Construction will be carried out in connection with the rest of the project, and the residential units will be ready for handover at the end of 2017.