Castellum sells office property for €50m (SE)

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Castellum has completed the sale of an office property in Luleå, Lejonet 11, of approximately 21,800m² for €50m (SEK 486m).

Purchaser is state-owned Specialfastigheter. Change of possession will take place on December 15, 2016.

Total rental value is approx. €3.4m (SEK 33m). Major tenants include the Courts of Sweden, the Swedish Police and the Swedish Enforcement Authority. The economic occupancy rate is over 99% and the average contract length is approx. 8 years.
The sale means that Castellum is leaving Luleå. Castellum is now in position to announce a property-sales volume which is even higher: The company has now sold properties worth a total €700,000m (SEK 6.8bn) since the spring.

Meanwhile, the company continues to invest, providing Castellum customers with newer, more efficient and more effective operating premises. At the moment, Castellum is running no fewer than 19 major new construction, extension, or reconstruction projects, worth a total of €220,000m (SEK 2.1bn).

By | 2017-02-16T16:48:55+00:00 December 12th, 2016|Europe, Real Estate, Uncategorized|Comments Off on Castellum sells office property for €50m (SE)