Castellum acquries properties for SEK 200 million

Gothenburg, June 1, 1999
The real estate company Castellum has acquired nine commercial properties in Greater Gothenburg and the Öresund Region at a total of SEK 200 million.

Through its local subsidiary in Mölndal, Harry Sjögren AB, Castellum has, in one transaction, acquired six adjoining office and industrial properties in Mölndal adjacent to the southern highway approach to Gothenburg. The properties acquired have a total lettable area of approximately 39,000 square metres, of which about 5,000 square metres are vacant. The properties also include building permissions with prospects of extensions up to 10,000 square metres. The total purchase price amounts to approximately SEK 150 million and the day of taking possession will be October 1st. The acquisition increases the volume managed in Mölndal and enables the company to offer a wider choice of commercial premises in this district, where the company already owns properties.

Moreover, Harry Sjögren AB has acquired another warehouse and office property in the Högsbo-Sisjön industrial area in southern Gothenburg, where the company has considerable holdings. The purchase price amounted to SEK 42 million and possession was taken on April 1st. In connection with the transaction, the entire area of 5,490 square metres was leased to the seller on a long-term basis. The property also includes an unexploited building permission of approximately 2,000 square metres, on which an extension of the building is planned.

At a total of SEK 8 million, the local subsidiary in Malmö, Fastighets AB Briggen, has acquired a warehouse property of 1,640 square metres in the Elisedal district in Malmö, as well as a vacant office and warehouse property of 2,500 square metres close to one of the company's existing properties in Helsingborg. The properties acquired will be taken over this autumn.

Including the above transactions, Castellum has, so far this year, acquired properties and started larger projects in existing properties for in all SEK 1,2 billion, of which approximately SEK 600 million refer to acquisitions carried out.

Håkan Hellström, CFO, tel +46 31 60 74 00 / mobile +46 705 60 74 56

Lars-Erik Jansson, deputy CEO, tel +46 31 60 74 00 / mobile +46 705 92 06 70