BROEN Shopping

Esbjerg, Denmark

Together with CapMan Real Estate, TK Development is building a new shopping centre in Esbjerg, BROEN Shopping, of about 29,800 m² at Esbjerg Station. TK Development has a 35 % ownership interest.

88 % of the premises have been let. The tenants include Kvickly, H&M, Fitness.dk, Bahne, Kings & Queens, Imerco, Sportmaster, Gina Tricot, Café Vivaldi, Nielsens and Deichmann.

Construction has reached the final stage, and the centre opening is scheduled for 10 April 2017. The centre is to be expanded with a cinema, and a lease agreement has been concluded with Nordisk Film Cinemas regarding the establishment of an eight-screen cinema in connection with the centre. The work on the local plan required for this purpose has been initiated. The cinema is expected to open its doors in autumn 2018.

In the jointly owned company, the project is classified as an investment property under construction, and TK Development recognized a significant positive value adjustment of its ownership interest in the project in the 2016/17 financial year.