CITYCON BECAME SOLE OWNER OF THE COMMERCIAL PREMISES IN THE SHOPPING CENTRE
TORIKESKUS IN SEINÄJOKI
Citycon Oyj, which specialises in commercial premises for the retail trade, has
acquired 10.1 per cent of share capital of the company named Kiinteistö Oy
Seinäjoen Kino. Kiinteistö Oy Seinäjoen Kino owns together with Kiinteistö Oy
Larvalankatu 13 the commercial premises in the Torikeskus Shopping Centre in
Seinäjoki. Citycon has hundred-percent ownership in both companies after the
transaction. The purchase price was EUR 1.2 million.
The Torikeskus Shopping Centre is one of the leading shopping centres in the
large market area of Southern Ostrobothnia. It is estimated that 1.4 million
customers will be visiting the shopping centre in 2004 and its total sales will
be roughly EUR 16.8 million.
Citycon acquired the Torikeskus Shopping Centre in February 2004. The purchase
price was EUR 7.0 million. The net yield of the property on its purchase price at
the date of the transaction was roughly 8.6 per cent.
Citycon owns a total of 16 shopping centres in the Helsinki Metropolitan Area and
other regional centres in Finland.
In addition to shopping centres, Citycon also owns 130 supermarkets and shops.
The balance sheet value of the company's entire property portfolio on 30
September 2004 was EUR 731.0 million, of which shopping centres account for 58.9
per cent and supermarkets and shops for 41.1 per cent.
Citycon Oyj
Board of Directors
Further information:
CEO Petri Olkinuora
Tel. +358 400 333 256
Head of Shopping Centre Division Kaisa Vuorio
Tel. +358 500 667 227
www.citycon.fi
Distribution: Helsinki Exchanges and main media