VVT Property Fund I has sold a multi-let big-box retail property in the Laune retail district of Lahti to a company within Frasers Group, which also owns XXL. The transaction was completed in July 2026.
Located at Apilakatu 1, the property comprises approximately 7,200 m² and is almost fully leased to XXL, Lager 157 and Dogman. The asset is situated next to Prisma Hypermarket in Laune, which is the leading retail area in the Lahti region.
VVT Property Fund I acquired the property in August 2017. The fund is backed by Varma, the State Pension Fund of Finland (VER) and Tradeka-sijoitus Oy. According to VVT, the property remained almost fully occupied throughout its ownership period.
The property’s sustainability characteristics were also improved during VVT’s ownership. Apilakatu 1 has achieved a BREEAM In-Use Very Good certification. VVT reported that the property’s energy performance had been improved during its ownership, while current property information lists the energy performance class as C.
The buyer, Frasers Group plc, is a UK-based retail group listed on the London Stock Exchange. Its brands and retail businesses include Sports Direct, XXL, Flannels, House of Fraser, Everlast, Slazenger, Jack Wills and USC. Frasers Group reports owning more than 225 properties.
The transaction price was not disclosed.