Assertive initiative gives Thon centres the best results
"We fill the centres with what our visitors want most. With new types of tenants specialising in entertainment, experiences and food service, we can present new shop concepts and meet the needs of new target groups. This is how we redefine the shopping centre concept," explains Carl Nicolai Lundgreen Vold from the Olav Thon Group.
Vold is head of development in the shopping centre division. He explains that the group, the largest shopping centre operator in Norway, performed around one percentage point better than the shopping centre industry average this past year (see the table at the bottom).
"The Olav Thon Group has performed exceptionally over many years. We plan to continue to be the market leader and build on this position. This also gives us exciting tenants and is reflected in our revenue figures," he says.
Creating a lively urban environment around the centres
It is nothing new that the Olav Thon Group endeavours to create a lively urban environment around its shopping centres. Many are familiar with Strømmen Storsenter and the virtually adjacent Strømmen Verksted housing development.
Another example is the Thon shopping centre Triaden, where the new Skårerløkka residential area is under construction. Apartments are still available for purchase.
The Olav Thon Group is continuing with new initiatives and has already started planning several large development projects.
Åsane to be a new urban centre in Bergen
One of the largest projects under development is the Åsane Storsenter north of the Bergen city centre. All parking will be underground in order to create an urban environment with streets and cross streets, as well as a square that will be the heart of the new urban district.
"We're planning homes, new shops, commercial buildings and maybe even a hotel," explains the director.
A detailed design and all documents for the development plans are now being prepared. The goal is to submit the plans in the spring of 2024.
"We want to start building Åsane regardless of the development of Bergen Light Rail," says Vold.
If the plans are put into action, this will be yet another example of how the Olav Thon Group brings together retail, experiences and residential housing.
"The new Åsane centre is an integral part of urban development," says Vold.
New shopping centre concept in Moss and launch of housing project
Another centre under construction is the AMFI centre in Moss. Thon Eiendom is already finished renovating the first of three blocks in the centre of Moss.
"AMFI Moss is a project we've been working on for many years. It involves a combination of homes, a shopping centre and other types of real estate with offices, health facilities and food service establishments," says Vold.
Next on the list is the renovation of the common areas in the remaining shopping centre section. Afterwards, they will focus on the Dronningkvartalet, which will be a residential district.
"This is an example of our new shopping centre concept with other types of experiences than shopping alone, and integration with the local community. We plan to make the shopping centre more extrovert and open," he adds.
Positive feedback from tenants
The exciting plans of the shopping centre division were recently presented during Retail Action Day, an annual forum with the Olav Thon Group and its largest tenants. CEO and president Kjetil Nilsen opened by confirming that the group plans to focus further on shopping centres.
Vold also said that they received positive feedback from tenants during the event.
"There was one who summed things up perfectly: a lot of exciting things are happening in the Olav Thon Group!"
Olav Thon Group shopping centres
- 78 centres in Norway (including the AMFI chain) and 10 centres in Sweden
- Turnover of around NOK 75 billion in 2022
- Lagunen Storsenter in Bergen is Norway's largest shopping centre measured in turnover
- Turnover figures from Kvarud Analyse show that Olav Thon Group shopping centres performed one percentage point better than the industry average this past year (see table below).
| Olav Thon Group | Norwegian shopping centre turnover | |||
| Period 2023-2022 |
Cumulative 2023-2022 |
Period 2023-2022 |
Cumulative 2023-2022 |
|
| January | 7.3% | 7.3% | 7.0% | 7.0% |
| February | 5.0% | 6.2% | 4.3% | 5.7% |
| March | 7.2% | 6.6% | 5.8% | 5.8% |
| April | -2.8% | 4.0% | -3.1% | 3.4% |
| March | 2.7% | 3.7% | 2.3% | 3.2% |
| June | 8.7% | 4.7% | 7.8% | 4.0% |
| July | 7.0% | 5.0% | 5.4% | 4.3% |
| August | 7.6% | 5.4% | 5.0% | 4.5% |
| September | 6.1% | 5.5% | 4.7% | 4.5% |
| October | 4.1% | 5.3% | 2.8% | 4.3% |
| November | 5.9% | 5.4% | 4.9% | 4.6% |
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