Listed Swedish real estate company Fabege is paying about EUR 56 mln for the 23,000 m[sup]2[/sup] Getingen 15 office property in central Stockholm. Fabege said on Wednesday that the acquisition is being carried out by the purchase of the property holding company from Swedish peer Linco Fastighets. The building contains eight floors above ground and three levels of car parking below. Some 13,000 m[sup]2[/sup] of Getingen 15 consists of offices. The cost of refurbishment of the three top floors ia being borne by the seller.
Listed Swedish real estate company Fabege is paying about EUR 56 mln for the 23,000 m2 Getingen 15 office property in central Stockholm. Fabege said on Wednesday that the acquisition is being carried out by the purchase of the property holding company from Swedish peer Linco Fastighets. The building contains eight floors above ground and three levels of car parking below. Some 13,000 m2 of Getingen 15 consists of offices. The cost of refurbishment of the three top floors ia being borne by the seller.
'The property offers interesting potential in the form of around 7,000 m2 of vacant space, which we regard as a great opportunity. We have been very successful with lettings in this area in the past year,' commented Christian Hermelin, CEO of Fabege. Following the acquisition which is to close in the second week of January next year, Fabege will own five properties totalling around 79,000 m2 at Norrtull: Getingen 13,14,15, Ormträsket 10 (Wenner-Gren Center) and Mimer 5.
'The acquisition enables us to create an even stronger, administratively efficient cluster in the Norrtull/Norra Station development area. The area is about to undergo major remodelling and modernisation, and we are delighted to be able to strengthen our market position there,' Hermelin said.
On Tuesday, Fabege announced it had signed an agreement with the City of Stockholm to acquire the Apotekaren 22 block in Norrmalm for EUR 85 mln. The property comprises almost 30,000 m2 of lettable space and a 3,000 m2 car park. In addition, Fabege is buying out the freehold of Bocken 46 from the City of Stockholm for just over EUR 7 mln At the same time, the company is selling the leaseholds of Visthusboden 1, 2 and 3 in Eskede, as well as the leasehold of Orgelpipan 5 on Norrmalm to the City of Stockholm for over 35 mln.
The majority of deals recorded by PropertyEU this week have involved either Fabege or other real estate companies from the Nordic region.