CITYCON OYJ Stock Exchange Release 1 November 2005 at 3.10 p.m.
Citycon became sole owner of Sampokeskus shopping centre in Rovaniemi, Finland
Citycon Oyj is expanding its shopping centre business operations in Rovaniemi,
Finland, by acquiring from Kapiteeli Plc all the shares of the real estate
company Kiinteistö Oy Lintulankulma on 1 November 2005. The real estate company
owns roughly a 14 per cent share of the gross leasable floor area of the
Sampokeskus shopping centre. The debt-free purchase price totalled EUR 2.1
million. Following this acquisition, Citycon will own Sampokeskus in its
entirety. The net yield of this investment, inclusive of asset transfer tax, was
8.1 per cent at the time of acquisition.
Rovaniemi, the capital city of the Province of Lapland in Finland, is a lively
university town with approximately 90,000 people in some 39,000 households in its
operating region. The Sampokeskus shopping centre, located in the heart of
Rovaniemi, is the most significant shopping centre in the area, visited by 3.3
million customers in 2004, with sales totalling roughly EUR 19 million. The gross
leasable area of the centre, focusing on retail sales of speciality goods, totals
13,465 square metres. This acquisition enhances Citycon's possibilities for
further improvement of the shopping centre.
Citycon is a property investment company specialising in shopping centres and
supermarkets and shops. On 30 September 2005, the fair market value of Citycon's
property portfolio totalled approximately EUR 894.2 million, of which shopping
centres accounted for 66.9 per cent and supermarkets and shops for 33.1 per cent.
Helsinki, 1 November 2005
CEO Petri Olkinuora, tel.: +358 9 6803 6738 or
(mobile) +358 400 333256
Kaisa Vuorio, Head of Shopping Centres Division
Mobile: +358 500 667 227
Helsinki Stock Exchange
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