Castellum and the Port of Gothenburg form joint venture company for new Nordic logistics hub
Castellum has signed a letter of intent with the Port of Gothenburg to develop the Halvorsäng area into a prominent Nordic logistics hub. The collaboration involves equal partnership, with Castellum investing around SEK 1 billion. The project will enhance Gothenburg's competitiveness and create jobs, with municipal approval pending a city council decision in September. The area, covering approximately 270,000 sq.m., aims for full development within 4 years, starting in 2021. Castellum's investment breakdown includes SEK 400-450 million for land and SEK 550 million for further development.
- Joint venture with the Port of Gothenburg to enhance competitiveness.
- Investment of approximately SEK 1 billion signals strong commitment.
- Potential job creation in the Gothenburg region.
- The project aims to develop a logistics hub on 270,000 sq.m. of land.
- Pending city council decision may delay project approval.
- Initial investment of SEK 400-450 million for land may strain cash flow.
GÖTEBORG, Sweden, June 22, 2021 /PRNewswire/ -- Castellum has signed a letter of intent with the Port of Gothenburg to jointly develop the Halvorsäng area into a leading Nordic logistics hub. The collaboration will be conducted in a partner company where Castellum and the port own equal parts. Castellum invests approximately SEK 1 billion in the project.
-This is a collaboration that will benefit Gothenburg's competitiveness and create new jobs in the region. We are proud to have been selected and hope for a positive decision in the City Council, says Henrik Saxborn, CEO of Castellum.
Castellum was chosen as the port's partner in a selection process where both finance and sustainability were important factors. The purpose of the partner company is to jointly develop, design and build logistics properties within Halvorsäng and to subsequently own, manage and rent out the premises. A letter of intent has been signed by the parties.
Halvorsäng is located directly north of Skarvikshamnen in an ideal location for handling incoming goods unloaded by the Port of Gothenburg, for further transport across Scandinavia by truck or train. The area amounts to approximately 270,000 sq.m. of land area, of which approximately 155,000 sq.m. is gross area. The site is to be fully developed within 4 years, with an estimated project start in 2021. Castellum's initial investment for
The municipal board in Gothenburg approved the port's request last week, and the matter will be considered by the city council in September.
-It is still early in the process but our absolute intention is to contribute to a successful development. With its close proximity to the port and the major traffic routes, Halvorsäng has all the qualifications of a great place for sustainable logistics of the future, says Mariette Hilmersson, CEO of Castellum Region West.
For more information, please contact:
Henrik Saxborn, CEO Castellum AB, +46 706-94 74 50
Ulrika Danielsson, CFO Castellum AB, +46 706-47 12 61
Mariette Hilmersson, CEO Castellum Region West, +46 739-42 09 02
About Castellum
Castellum is one of the Nordic region's largest listed real estate companies with a property value of approximately SEK 96 billion. We are active in 14 Swedish growth regions as well as in Copenhagen and Helsinki. Every day, 250,000 people go to work in our premises. We develop flexible workplaces and logistics solutions with a lettable area of 3.8 million square meters. One of our sustainability goals is to be entirely climate neutral by 2030. Castellum is the only Nordic real estate company selected by the Dow Jones Sustainability Index (DJSI). The Castellum share is listed on the Nasdaq Stockholm Large Cap.
Beyond expectations.
www.castellum.se
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SOURCE Castellum
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