Swedish listed property company Castellum has signed a deal to acquire a prime commercial building in central Stockholm which is valued at SEK 800 mln (€85 mln).
The historic property, located at Sabbatsberg 24, was the headquarters of water and waste giant Stockholm Vatten until last year.
'This is a fantastic location. We look forward to developing the existing building and contributing fine new commercial spaces to the centre of Stockholm,' commented Castellum's CEO Henrik Saxborn.
Castellum plans to preserve and enhance the features of the building, which was completed in 1906 by architect Ferdinand Boberg.
The deal rests on a final decision by the Stockholm City Council, expected in March.
Castellum, one of Sweden's largest real estate companies, currently holds a real estate portfolio of approx. 90,000 m2, with property holdings worth SEK 71 bn (€7.4 bn).
