Castellum acquires fully completed office property from NCC for just over SEK 1 billion

Castellum establishes itself in expansive Järva Krog in Solna. This is done through a company acquisition of NCC Property Fyrtioett AB and its modern newly built office property K11. The acquisition amounts to just over SEK 1 billion. "A state-of-the-art building in a dynamic new district combining functionality and inspiring environments", says Henrik Saxborn, CEO of Castellum AB.

With its location along the road between Stockholm and Uppsala, the Järva tavern has for centuries been a place for food, rest, socializing, and business. Today's Järva Krog is an energetic neighborhood town with modern offices, shops, restaurants and services.

NCC Property Development develops the area and sells the properties as they are completed. The K11 office property has recently been built and only a few tenant adaptations remain. K11 meets all requirements for flexibility where tenants can adapt their premises to changing needs. The large indoor courtyard with a glass roof contributes to an ideal environment for meetings and conversations and a shell-shaped staircase leads up to the offices where sound-absorbing glass ensures the sound environment of the workplace. Each office floor has a balcony, and the house is crowned by a roof terrace overlooking Brunnsviken. At street level are restaurants and shops, and the building is certified according to BREEAM Excellent.

Through the acquisition, Castellum establishes itself with very good accessibility right at the exit from the E4 motorway. During the years 2023 - 2025, approximately 400 homes will be built on adjacent property, which will further contribute to increased movement in the area.

"K11 will be a strong complement to our portfolio of high-quality office space in great locations outside the CBD," says Martin Bjöörn, CEO of Castellum Region Stockholm-Norr.

The business in brief:
Castellum acquires the office property K11 through a company acquisition of NCC Property Fyrtioett AB
Acquisition price: just over SEK 1 billion including overheads
Access: July 1, 2021
Lettable area: 12 604 sqm
Annual rental value: SEK 48.9 million
Major tenant: Hewlett-Packard Sverige AB
Economical occupancy rate: 100%
Average contract duration (years): approx. 5.3

For more information, please contact:

Henrik Saxborn, CEO Castellum AB, +46 706-94 74 50

Ulrika Danielsson, CFO Castellum AB, +46 706-47 12 61

About Castellum
Castellum is one of the Nordic region's largest listed real estate companies with a property value of approximately SEK 96 billion. We are active in 14 Swedish growth regions as well as in Copenhagen and Helsinki. Every day, 250,000 people go to work in our premises. We develop flexible workplaces and logistics solutions with a lettable area of 3.8 million square meters. One of our sustainability goals is to be entirely climate neutral by 2030. Castellum is the only Nordic real estate company selected by the Dow Jones Sustainability Index (DJSI). The Castellum share is listed on the Nasdaq Stockholm Large Cap.

Beyond expectations.
www.castellum.se