Castellum buys EUR 54 mln Swedish properties

Swedish property company Castellum has acquired eight Swedish properties for a total investment of EUR 54 mln. In a press release, the group said it has also sold two premises with a total lettable area of 8,600 m² for EUR 3.2 mln.

Castellum has acquired four assets in Linkoping, Southern Sweden, for EUR 41.2 mln. The buildings are in the Mjardevi Science Park, home to 180 company offices with 4,000 employees. The development provides a lettable area of about 35,000 m2, of which 26,000 m² for office use with a vacancy rate amounting to 35%.

The company said that Linkoping municipality is part of Sweden's fourth largest urban region and that the development, built between 1988 and 2002, includes an unused building permission for another 6,000 m².

Castellum purchased an office building for close to EUR 6 mln in Eriksberg, near the Western city of Gothenburg. The property provides a lettable area of about 6,4000 m² with a vacancy rate of 70% in the end of December.

A commercial property has also been acquired for EUR 2 mln in Jonkoping, Western Sweden. The building has a lettable area of 3,300 m² and Castellum said it will invest other EUR 1.3 mln for refurbishment of the site during 2007. The property was fully let with a 11-year lease contract in the end of December 2006.