Wereldhave’s Itis shopping centre is one of Finland’s largest shopping centres, with 94,000 m² of retail. Wereldhave owns the entire freehold of the building and the land. As nearly all national retail chains are present in the centre, Itis needs to attract large international chains to fill the remaining vacancy in the centre. During 2015, 43 new leases were signed in Itis, 13 renewals and 6 rotations. Like-for-like rental growth for 2015 amounted to 2.3%.
The largest leasing transaction in 2016 was the expansion of the Lidl supermarket. After opening in November, Lidl has outperformed its own sales estimates. Significantly less in space, but valuable for the customer experience are a Starbucks shop that opened in April 2016 and a Flying Tiger. Negotiations are ongoing with several international fashion retailers, but decision making is slow.
Wereldhave will review strategic options for Itis in 2016.