Swedish private equity firm Niam has entered into a binding agreement with Grosvenor Europe to acquire Haninge Centrum, a local commuter hub 30 minutes away from central Stockholm.
The property, a public transport interchange with retail facilities, comprises 43,000 m2 of total lettable area and 750 parking spaces. It marks a further addition to the three Swedish commuter hubs bought by Niam last week for €150 mln. The three hubs are located in Tumba, Högdalen and Fruängen, all of which are suburbs of Stockholm.
‘Haninge Centrum will be a good addition to the other commuter hubs in the portfolio,’ said Daniel Andersson, head of Acquisitions Sweden. ‘We look forward to collaborating with our tenants and Haninge Municipality to continue the development of Haninge Centrum to a vibrant hub that meets the everyday needs of our visitors. With the support of large housing development projects, population growth in the immediate area is expected to significantly exceed most other areas in Sweden over the next ten years, which gives Haninge Centrum good conditions for increasing the number of visitors and sales.’
Carl Strufve, director Nordics at Grosvenor Europe, added, ‘This divestment is a part of our investment strategy and we will continue to actively invest in the Stockholm region. Since the acquisition in 2011 we have focused on turning Haninge Centrum into a lively city centre and once Niam takes possession, the property will be in much better condition than when we acquired it, with great development potential. We are happy that Niam shares our vision for Haninge Centrum.’
The deal is expected to close during Q1 2021. Financial details were not disclosed.
