Castellum is Planning the Acquisition of a High-profile Property in Central Stockholm
GÖTEBORG, Sweden, Feb 01, 2017 /PRNewswire/ --
Castellum AB is planning to acquire Sabbatsberg 24 in Stockholm – the well-known Ferdinand Boberg building near Torsgatan, which housed Stockholm Vatten's headquarters until last year. The acquisition rests on a final decision by the Stockholm City Council in March.
The underlying property value amounts to approx. SEKm 800.
The transaction is being prepared for approval at the Stockholm City Council meeting on March 20, 2017. This means that change of possession can come into effect in the last half of April, when the council decision becomes valid.
Castellum owns other properties in the vicinity and plans to participate in the development of Torsgatan, in cooperation with the city of Stockholm. The building was completed in 1906 and possesses unique historical features which will be preserved and enhanced. The exterior was designed by the legendary architect, Ferdinand Boberg, who is also the man behind several other renowned buildings, for example the Rosenbad building, which houses the Swedish Government Offices and the NK department store building in Stockholm.
"This is a fantastic location. We look forward to developing the existing building and contributing fine new commercial spaces to the centre of Stockholm", says Henrik Saxborn, Castellum CEO.
Castellum currently holds a real estate portfolio of approx. 90,000 sq. m. and is one of Sweden's largest real estate companies, with property holdings worth SEK 71 billion. One of Castellum's featured corporate objectives is to continuously develop real estate holdings through net investments of at least 5% of property values annually.
For additional information, please contact:
Henrik Saxborn,
CEO,
Phone +46-31 60 74 50
Ulrika Danielsson,
CFO,
Phone +46-31 60 74 74
www.castellum.se
Castellum is one of the major listed real estate companies in Sweden. The fair value of the real estate portfolio amounts to approx. SEK 71 billion, and comprises of commercial properties for office, retail, warehouse and logistics with a total lettable area of approx. 4.3 million sq.m.
Castellum own and manage properties through one common brand in five geographical regions with strong local presence. The five geographical regions are: Central, North, Stockholm, West and Öresund.
In 2016, Castellum sustainability performance was awarded two top distinctions: First Prize for sustainability reporting in Europe from EPRA and Global Sector Leader, handed out by GRESB which means that Castellum is ranked first in the world within the office- and industrial-properties sector. Further Castellum has been selected as an index component of the Dow Jones Sustainability Indices (DJSI), which includes the companies in all industries in the world with best performance in terms of sustainability.
The Castellum share is listed on Nasdaq Stockholm Large Cap.
Castellum AB (publ), Box 2269, SE-403 14 Gothenburg | Org nr/Corp Id no SE 556475-5550 | Phone +46 31 60 74 00 Fax +46 31 13 17 55
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| Press release 170201 |
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