Reconstruction of a classic building in central Gothenburg Continues to develop in central Norrköping
Castellum AB (publ)has, through its wholly owned subsidiary Eklandia Fastighets AB, started a reconstruction and extension of the property Kungsportshuset in central Gothenburg. The investment is calculated to SEKm 92 and expected to be completed during the second quarter 2017. The reconstruction and extension is carried out according to environmental certification system Miljöbyggnad with the ambition to reach the level Silver.
Eklandia owns Kungsportshuset and is now developing the property with its unique location at one of the premier venues in Gothenburg. The building totaling 2,500 sq.m. will be upgraded to a high-quality cultural and entertainment venue with new construction standard while a genuine impression can be preserved. The property is fully let by a 18-year lease with 2E Group where the rental income is estimated at SEKm 9 per year.
“Kungsportshuset has for a long time been an important cultural building. By this investment with good return, we both preserve and refine a genuine location” comments Henrik Saxborn, CEO in Castellum AB.
Fastighets AB Corallen invests, through its half-owned company CORHEI Fastighets AB (former Ståhls), in a reconstruction of a central cultural property at Knäppingsborg in Norrköping. The total investment is calculated to SEKm 48, of which 50% refers to Corallen’s share of the company, corresponding to SEKm 24.
The reconstruction, which comprises about 2,200 sq.m. intended for office, restaurant and retail operations, is expected to be completed during the third quarter 2016. A tenant, law firm Glimstedt, has signed a six-year lease that covers about a third of the premises with an annual rental value of SEKm 1.4. The total rental value is estimated at SEKm 4.6 per year.
Castellum has long-term, unutilized credit facilities of approx. SEK 5 billion, which will be used for the investments.
Castellum AB (publ) discloses the information provided herein pursuant to the Securities Markets Act and/or the Financial Instruments Trading Act.
For further information, please contact
Henrik Saxborn, CEO, phone +46 31-60 74 50
Ulrika Danielsson, CFO, mobile +46 706-47 12 61
Castellum is one of the major listed real estate companies in Sweden. The fair value of the real estate portfolio amounts to approx. SEK 42 billion, and comprises premises for office, retail, warehouse and industrial purposes with a total lettable area of approx 3.4 million sq.m. The real estate portfolio is owned and managed by six wholly owned subsidiaries with strong local roots in five growth regions: Greater Gothenburg, the Öresund Region, Greater Stockholm, Mälardalen and Eastern Götaland.
Castellum sustainability performance has, during 2015, been awarded with two top distinctions. The World Green Building Council’s award Business Leadership in Sustainability and “Green Star 2015” by GRESB which means that Castellum is one of the highest ranking companies in the world in the real estate sector.
Castellum is listed on Nasdaq Stockholm AB 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