Grosvenor Group has expanded its shopping centre portfolio by acquiring an asset in Sweden.
The property group鈥檚 European arm said it bought the 19,900sqm mixed-use mall in Liding枚 Centrum for an undisclosed sum.
James Raynor, the chief executive of Grosvenor Europe, said: 鈥淪weden is a top performer in European markets and continues to offer a solid growth outlook.
鈥淲e see great potential in retail-led mixed-use assets in the Stockholm region, particularly where there is the opportunity to add value through the increase of the food and beverage and leisure offer, or through the introduction of residential in some cases.鈥�
Raynor said Liding枚 is an exciting opportunity for Grosvenor to grow its position in the Nordics and it will enable the company to continue to implement an activity that will deliver positive commercial and social benefit.
Liding枚 Centrum is Grosvenor鈥檚 first wholly owned shopping centre in Sweden since entering the market in 2011.
Grosvenor鈥檚 existing portfolio, held in investment vehicles, includes four town centre retail schemes in the Stockholm region, and one in Malm枚.
