Klövern's press release reads:

Klövern acquires a property in Västerås for SEK 175 million

Klövern acquires the property Köpmannen 5 in Västerås for approximately SEK 175 million from IKEA Fastigheter.

The property is under total redevelopment and will at completion consist of around 16,600 sq. m. for the retail trade. Currently some 6,900 sq. m. are let, on long-term contracts, to Systembolaget, Willys and Rusta. Klövern will, until transfer of possession, work together with IKEA Fastigheter on letting the remaining square meters.

Transfer of possession has preliminarily been set at 1 October 2014.

"This is a very exciting project that IKEA Fastigheter has initiated and we will now develop it into a strong retail hub in Västerås", says Klövern's CEO Rutger Arnhult.

Link to the press relase.

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