RED makes strategic acquisition
RED acquired the property Betongen 1 in Östersund, which is strategically located directly adjacent to the primary entrance into Östersund and Lillänge Retail Park. The property covers nearly 30,000 square metres and the ambition is to work closely with the municipality to produce a new detailed development plan that will allow the retail of durable goods without food as well as supplementary service activities.
The development area is estimated to cover a gross total area of nearly 13,000 square metres.
-“We have had our eye on Betongen 1 for a while, but the timing has never been right to make this deal. We believe that the time is now right to work with the municipality to create a new and more welcoming entrance for this park”, says Ronald Rico, CEO of RED.
-“Heidelberg/Betongindustri is not leaving Östersund, but is moving its operations to a new property located in Torvalla, where they will establish a new plant”, says Per Berglund, CEO of Betongindustri.
