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Sponda sold shopping centre and office building in Moscow

Sponda Plc
Stock Exchange Release
25 June 2015, 18:30

Sponda sold shopping centre and office building in Moscow

Property investment company Sponda Plc has sold shopping centre known as Solnechniy II as well as the Bakhrushina House office building in Moscow for the price of USD 46.6 million to Horizon Properties Ltd. Sponda will record asales profit of approximately EUR 1.2 million from the transaction in comparison with the market value of the first quarter of 2015.

“We are pleased that we have been able to complete this transaction in spite of the challenging market situation,” says Kari Inkinen, President and CEO of Sponda.

The Solnechniy II shopping centre was completed in 2005 and is located at 4B Vokzalnaya Street in the centre of Ramenskoe in Moscow region. The shopping centre has approximately 6,500 square metres of leasable retail premises and a parking facility that can accommodate 110 cars. Shopping centre is fully leased.

The Bakhrushina House office building is located at 32 Bakhrushina Street in the centre of Moscow. The office building was completed in 2002, with nearly 4,000 square metres of leasable area, and is fully rented.

Sponda Plc

Further information: Kari Inkinen, President and CEO, tel. +358 400 402 653

Sponda Plc is a property investment company specializing in commercial properties in the largest cities in Finland. Sponda’s business concept is to own, lease and develop retail and office properties and shopping centres into environments that promote the business success of its clients. The fair value of Sponda’s investment properties is approximately EUR 3.1 billion and the leasable area is around 1.2 million m².