Castellum has completed the sale of an office property in Luleå, Lejonet 11, of approx. 21,800 sq.m.
The selling price amounted to SEKm 486, after deduction of expenses and assessed deferred
tax of SEKm 27, which exceeded the latest valuation by SEKm 28 and the acquisition price in the Norrporten transaction last spring by 27%. Final economic results will also be affected by reversed goodwill of approx. SEKm 15 and deferred tax income of approx. SEKm 55.
Purchaser is state-owned Specialfastigheter. Change of possession will take place on December 15, 2016.
Total rental value is approx. SEKm 33. 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.
Following publication of the Norrporten acquisition – Sweden’s second-largest real estate deal – in April of this year, Castellum announced that divestments totalling at least SEK 4 billion would be made, as part of transaction financing. Castellum is now in position to announce a property-sales volume which is even higher: Including today’s property divestment in Luleå, the company has now sold properties worth a total SEK 6.8 billion 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 SEK 2.1 billion.
“I’m pleased that we’ve managed to carry out the divestments we announced when we bought Norrporten”, says Henrik Saxborn, Castellum CEO. “Our ambition level is unchanged: to invest a net 5% of the net worth of our property portfolio every year – that is, an amount approaching SEK 10 billion over a three-year period”.
This information is information that Castellum AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out below, at 12.00 CET on December 9, 2016.
For additional information, please contact:
Henrik Saxborn, CEO, Phone +46-31-60 74 50
Ulrika Danielsson, CFO, Phone +46-31-60 74 74
Castellum is one of the major listed real estate companies in Sweden. The fair value of the real estate portfolio amounted at the latest report to approx. SEK 74 billion, and comprises of commercial properties for office, retail, warehouse and industrial with a total lettable area of approx. 4.7 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