RED sells Länken 1, Umeå

In 2014, RED and Citycon entered into a partnership to jointly develop the retail property, Länken 1, in the Ersboda Retail Park outside Umeå. The partners have now sold the property to Fastighets AB Regio.

Since RED and Citycon initiated their partnership in 2014 with the intention of developing Ersboda, which, at that time, had Willys and Jula as tenants, the Park has grown by almost 5000 square metres of additional retail area. 

The development of the property generated a powerful addition to the Park, partly through expansion by Jula, which is expected to be completed in autumn this year, as well as through the arrival of XXL and a new BR store, which will be opening their doors in the autumn.

RED and Citycon have now jointly sold the property to Fastighets AB Regio, who are taking possession immediately. 

”RED is absolutely delighted with the development of the property, and we are looking forward to passing the baton to a professional and long-term player such as Sveafastigheter.  We are extremely proud that we have realised our objectives with the property, and thereby consolidated Ersboda’s position as Umeå’s strongest retail area. We are also very grateful for the confidence that Citycon has shown us throughout our partnership”, says Ronald Rico, CEO of RED.