Swedish property group Kungsleden has purchased three newly built properties from real estate and construction giant Skanska for SEK 1 bn (€100 mln) in a move which will create a new office cluster in the Södra Centrum area of Gothenburg.
The assets - Kallebäck 2: 7, Kallebäck 2:11 and Kallebäck 2: 9 - provide 30,000 m2 of total lettable area, 18,300 m2 of which is office space and the remainder taken up by parking.
One office building, completed in 2016, has already changed hands together with the parking garage, which was delivered in 2015. The second office building is under construction and will be transferred after completion during the first quarter of 2019.
The office assets are fully leased by Försäkringskassan, ÅF, Capgemini, Handelsbanken and BeSiDa with an average lease agreement of 5.8 years from the date of entry. The total lease value for all three properties amounts to just over SEK 56 mln.
'Together with our existing and nearby office properties Krokslätt 34:16, Gårda 19:10 and Stiernhielm 7, the newly acquired properties form an attractive and modern office cluster – Gothenburg South Center, in all counting 50,000 m2,' commented Ylva Sarby Westman, Deputy CEO and CIO at Kungsleden.
Södra Centrum becomes Kungsleden's second cluster in Gothenburg after Högsbo. The new cluster will have a market value of almost SEK 1.4 bn, generating rents of SEK 81 mln a year.
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7 February 2018
Outlook 2018: Europe & Nordics Investment Briefing
Catella Corporate Finance AB, Birger Jarlsgatan 6, 6th floor, Stockholm, SE-102 40, Sweden
08:30 - 11:00
The Nordic countries have been attracting record levels of real estate investment in the last few years, with foreign investors accounting for more than half of all deals. Join an expert panel to discuss the latest opportunities for the region.
