SWEDEN - Swedish property company Jernhusen has sold a land site under the World Trade Center (WTC) in Stockholm to Alecta Pensionsforsakring, and bought neighbouring property Orgelpipan 6 from Folksam.

Both transactions are part of Jernhusen's ongoing plans to develop Stockholm's central bus terminal and link it more closely with the central railway station.

Occupational pensions mutual Alecta is already the leaseholder of Terminalen 1, part of WTC, and has now bought the land from Jernhusen for SEK600m (€59m), enabling the property company to begin development.

"This is a good solution that allows us to have a holistic approach to the development of the future Stockholm Central Station," said Per Berggren, chief executive of Jernhusen.

"The sale frees capital that we will be devoted to the development of the entire central station area in West City."

Insurance group Folksam has also sold Orgelpipan 6 for an undisclosed sum, allowing Jernhusen to create a new entrance to the railway station.

Berggren said both transactions were "part of the realisation of Jernhusen's long-term development of the central station area".

He added: "Our goal is to help increase public transport and we will be able to offer an advanced range of new services in both Central Station and the City Station."

Meanwhile, Alecta has sold an office complex in Eindhoven in the Netherlands via Aberdeen Property Investors.

The pension fund sold the collection of three office buildings, covering over 5000 square metres of space and located in the port of Metz, to Bossers & Fitters Bedrijfshuisvesting, acting on behalf of Schalkwijk Estate.

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