Eurocommercial expands in Sweden with Avion Shopping Centre

Eurocommercial Properties has expanded its presence in Sweden by acquiring the 45,000 m2 Avion Shopping Centre in Umeå from Ingka Centres for €110 mln.

Avion Shopping Centre in Umeå

Avion is a premier regional retail destination, anchored by major brands such as Willys, H&M, Clas Ohlson, and Stadium, alongside a diverse mix of national and international retailers, restaurants, and services. The centre, featuring approximately 80 shops and eateries, recently expanded to include seven new large retail stores with strong tenants like Systembolaget, Rusta, Power, and COOP.
A key advantage is its direct internal link to the adjacent 30,000 m2 IKEA store (not part of the acquisition) that acts as a powerful anchor.
Built in 2016, Avion is BREEAM Excellent certified, demonstrating strong ESG compliance and high quality.
Avion benefits from moderate retail density in Northern Sweden, which fosters sustainable turnover growth without oversupply. Eurocommercial plans to refine the tenant mix, enhance the merchandising strategy, and improve rental performance to achieve a yield above 8%. 
Funded by available cash and existing credit lines, the transaction is expected to finalise by the end of March, contributing to results from 2026 onwards.
CEO Evert Jan van Garderen said: “Avion is a compelling addition to our portfolio and a transaction fully aligned with our strategy of investing in dominant shopping centres with clear upside potential. Anchored by a large IKEA store connected to the mall, Avion will have the highest footfall in our Swedish portfolio and offers a wide range of well-known and successful Nordic retailers. Moreover, Sweden is a stable, resilient market where we have deep operational expertise since 2001, and this acquisition further strengthens our Nordic platform.”
Jonas Gustavsson, Director Sweden, added: “Avion is a well-established regional shopping destination with a strong catchment and an attractive retail offer. We see clear opportunities to further refine the tenant mix and enhance the customer experience. Our team has already identified further leasing potential within the gallery and is enthusiastic about unlocking the next phase of growth for the centre.”
The acquisition forms part of the Group’s active asset rotation strategy, following the disposal of the megastore let to value retailer Eko in the summer of 2025.
With this transaction, Sweden becomes the second-largest country in Eurocommercial’s portfolio after Italy.