NACKA, Sweden--(BUSINESS WIRE)--Regulatory News:
Now that Svenska Spel, Åhléns and other tenants have departed from the Orgeln 7 property in the heart of Sundbyberg, Fabege has embarked on a major redevelopment/extension project. The investment amounts to SEK 944m, and it is estimated that the project will be completed in summer 2018. The new building has been named Grand Central Sundbyberg.
Totally renovated, the building will acquire four new storeys and in all approximately 36,000 sqm of offices and retail space excluding parking.
- “In Grand Central Sundbyberg, we are creating an attractive, modern product in the very best location for communications. Work on letting is in full swing, and I’m convinced that we will conclude agreements in good time before the property in completed”, says Christian Hermelin, CEO, Fabege.
The Municipality of Sundbyberg has advanced plans for taking the metro underground and Grand Central will then become a natural focal point in the new square. The plans provide space for restaurants, shops and a vibrant urban scene.
Fabege AB (publ)
Fabege AB (publ) (STO:FABG) is one of Sweden’s leading property companies focusing mainly on letting and managing office premises and property development. Fabege owns properties with a carrying amount of SEK 42.4bn. The portfolio is concentrated in the Stockholm region and has an annualised rental value of SEK 2.3bn and a lettable area of 1.1m sqm. Fabege’s shares are listed on Nasdaq OMX Stockholm, Large Cap segment.
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