GOTHENBURG, Sweden--(BUSINESS WIRE)--Regulatory News:
In central Örebro Castellum (STO:CAST) has started a new construction of an office property – Citypassagen – of approx. 15,000 sq.m. The investment is estimated to SEKm 420, of which SEKm 45 refers to value of own land. The new building is estimated to be completed by the first quarter of 2019.
The property is located at the northern entrance to Örebro and directly adjacent to the Travel Centre. The building is planned to be environmentally certified as Miljöbyggnad, lowest level silver.
The total annual rental value is estimated to SEKm 35. A 15-year leasing contract has been signed with the City of Örebro. This corresponds to 46% of the rental value.
"We are proud that this large project could contribute with modern and flexible office premises in the rapidly growing Örebro market", says Henrik Saxborn, CEO of Castellum. “The fact that we already rented out a considerable part of this well situated building is even more stimulating”.
In Uppsala Castellum has started a new construction of a distribution facility of approx. 6,000 sq.m. The investment is estimated to SEKm 101, of which SEKm 20 refers to value of aquired land. The new building is estimated to be completed by March 2018 and is constructed according to the criteria for Miljöbyggnad and Green Building. The property is located in Östra Fyrislund and a 10-year leasing contract for the entire building has been signed with PostNord to an annual rental value of SEKm 7.8.
"It is gratifying for us to acquire land in the early development stage of this area in Uppsala. The investment means that we continue to expand our extensive portfolio of warehouses and logistics buildings in the Castellum group ", says Henrik Saxborn.
Castellum has, after deduction of outstanding commercial papers, unutilized credit facilities of over SEK 4 billion, which will be used for the investments.
This information is information that Castellum AB is obliged to make public pursuant to the Securities Markets Act. The information was submitted for publication at 8 am CET on December 1, 2016.
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
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