This website uses cookies to improve your experience. By using the Savills IM website you consent in accordance with our Cookie Policy.
Read more

accept

accept

 

Savills Investment Management ("Savills IM"), the international real estate manager, has sold a car trade-focused retail park in Finland on behalf of its retail focused Nordic Fund I (the ‘Fund’).

The close ended fund is approaching its end of life and has one remaining asset to sell, having proactively initiated an early sales programme given the strong demand for Core Plus assets in 2016.

 

The Auto Airport retail park, close to Vantaa Airport in Helsinki and covering a lettable area of 17,800 sq m, was sold to OP-Vuokratuotto. The warehouse has been managed for 10 years by Savills IM and has ALD Automotive, MetroAuto and Teboil as its main tenants..

 

 

Peter Broström, Head of Nordics at Savills IM, commented:

“Auto Airport is now a highly desirable Core Plus asset following completion of our management programme. In 2016 we secured a total of 56% of its rental income for the next five years through two new lease extensions.

 

“It has been under our management for the last 10 years and we are very pleased to hand over the property to a seller such as OP-Vuokratuotto. The property has been a strong investment in our Fund and has provided sound returns to our investors.”

 

Contacts

Citigate Dewe Rogerson

Patrick Evans / Stephen Sheppard / James Madsen / Alice Stewart


Tel: +44 (0)20 7282 2966

E: savillsim@citigatedr.co.uk


Savills Investment Management


  • About Savills Investment Management (Savills IM)Savills Investment Management is an international real estate investment manager with offices in Copenhagen, Frankfurt, Hamburg, Hong Kong, Jersey, London, Luxembourg, Madrid, Milan, Munich, Paris, Singapore, Stockholm, Sydney and Tokyo
  • As at 31 March 2016, Savills Investment Management managed a total of c.€17 billion of assets
  • Savills Investment Management is the brand name for entities in the Savills Investment Management group, including Savills Investment Management LLP, Savills Investment Management (UK) Ltd, Savills Investment Management (Luxembourg) Sàrl, Savills Investment Management (Jersey) Limited, Savills Investment Management SGR SpA, Savills Investment Management (Germany) GmbH, Savills Investment Management KVG GmbH, Savills Investment Management Pte Ltd, Savills Investment Management Asia Limited and Savills Investment Management (Hong Kong) Limited
  • Savills Investment Management LLP is a limited liability partnership registered in England No: OC306423 regulated by the Financial Conduct Authority 
  • Savills Investment Management is regulated in the UK, Italy, Germany, Jersey, Japan and Luxembourg.
  • 25 January 2017

Back to news & views