Castellum: Castellum selling real estate for SEKm 285 in Stockholm
Castellum is selling Archimedes 1, situated in the north Mariehäll
district of Bromma, Stockholm. The property comprises a total 18,000
sq.m. of office and industrial space and is situated in an area
primarily destined for residential purposes. Sales price amounts to
SEKm 285, on a level with the latest valuation.
Mariehäll was being transformed into a district with an increasingly
large number of residential units. So as early as 2013, Castellum
entered into an options agreement with ALM Equity AB to sell the
Archimedes 1, property, for conversion into residences. The property
sale has now been executed, for a price of approx. SEKm 285. Of this,
SEKm 237 will be payable on the March, 2018 occupancy date, and the
remaining will come due when zoning plans are finalized. The latter
is expected to take place sometime during the year, pending the
Efforts to transform properties in Mariahäll and other areas of
Stockholm to residential building rights have taken place over a
number of years. The sale of Archimedes 1 has consequently been
completely in line with our strategy, says Henrik Saxborn, Castellum
Vacancy will be completed from March 5; Castellum has successively
been vacating tenants from the premises. Upon occupancy, only 1,100
sq.m. remains leased, and rental revenues amount to SEKm 1.5.
Summary of the transaction:
Castellum sells the Archimedes 1 property to ALM Equity AB.
Sales price: SEKm 237 upon occupancy, plus SEKm 48 in contingent
consideration, effective when zoning details for the area are deemed
final. Price in line with latest valuation.
Vacancy date: March 5, 2018
This information is information that Castellum is obliged to make
public pursuant to the EU Market Abuse Regulation and the Securities
Markets Act. The information was submitted for publication, through
the agency of the contact persons set out below, at 8:00 am CET on
March 7, 2018.
For additional information, please contact:
Ulrika Danielsson, CFO, Castellum AB, phone +46 706 47 12 61
Ingalill Östman, Director of Corporate Communications Castellum AB,
phone +46 703 54 41 27
Castellum is one of the major listed real estate companies in Sweden.
The fair value of the real estate portfolio amounts to approx. SEK 81
billion and comprises commercial properties for office, retail,
warehouse and logistics with a total lettable area of approx. 4.4
million sq. m.
The real estate portfolio is owned and managed under the Castellum
brand through a decentralized organization with strong and clear
local presence in 20 cities from Copenhagen in the south to Sundsvall
in the north.
In 2017, Castellum received two awards for sustainability efforts;
designated Number One in the world by GRESB for the
offices-and-logistics sector, as well as the Level Gold award for
sustainability reporting from the EPRA (European Public Real Estate
Association). In addition, Castellum is the only Nordic real-estate
and construction company elected to the Dow Jones Sustainability
Index (DJSI), joining a select group of companies in the world who
perform best on sustainability issues.
The Castellum share is listed on Nasdaq Stockholm Large Cap.
Castellum AB (publ), Box 2269, SE-403 14 Gothenburg | Corp Id no SE
556475-5550 | Phone +46 31 60 74 00