Castellum divests new production in Jönköping for SEK 510 M
Castellum is divesting a nearly completed property worth SEK 510 M to Vacse, housing the Swedish National Courts Administration in Jönköping. The building spans 9,200 sq. m. and boasts a 100% occupancy rate. Scheduled for occupancy in spring 2023, it aims for Miljöbyggnad Gold certification and features sustainable elements like rooftop solar cells. This divestment enhances Castellum's liquidity, contributing positively to its financial standing going forward. Closing is expected on May 1, 2023.
- Divestment of a property valued at SEK 510 M enhances liquidity.
- Property is fully let to a stable tenant with a 100% occupancy rate.
- Building designed for sustainability, aiming for Miljöbyggnad Gold certification.
- None.
GOTHENBURG, Sweden, Dec. 22, 2022 /PRNewswire/ -- Castellum is divesting a soon-to-be-completed property with the Swedish National Courts Administration as the sole tenant. The building will house the Göta Court of Appeal and the Administrative Court of Appeal in Jönköping. The underlying property value witch is in line with book to value, amounts to SEK 510 M with a market-based deduction for deferred taxes.
The property encompasses 9,200 sq. m. and is fully let to the Swedish National Courts Administration with planned occupancy in spring 2023. The building is designed with a view to achieving ambitious environmental objectives and to obtaining certification under Miljöbyggnad level Gold, and features, for example, a rooftop solar cell installation. Particular attention has been paid to daylight availability in the premises and the building's design in relation to the surrounding urban environment in Jönköping city center by Lake Munksjön. Closing will take place following the completion of construction.
"We are pleased to hand over a well-implemented property project with such a stable and long-term tenant as the Swedish National Courts Administration. The divestment strengthens our liquidity going forward," says Rutger Arnhult, CEO Castellum AB.
The transaction in brief
Properties: Götaland 9
Buyer: Vacse
Sale price: SEK 510 M
Closing date: preliminarily 1 May 2023
Rental value: approx. SEK 23 M annually
Tenants: The Swedish National Courts Administration
Lettable area: 9,200 sq. m.
Economic occupancy rate:
Rutger Arnhult, CEO Castellum AB, +46 31 60 74 00
Kristina Sawjani, Chief Investment Officer Castellum AB, +46 31 60 74 60
Castellum is one of the largest listed property companies in the Nordic region that develops flexible workplaces and smart logistics solutions. As of 30 September 2022, the property value totalled approximately SEK 186 billion, including the ownership share of the Norwegian company Entra ASA. We are active in attractive Nordic growth regions. One of our sustainability goals is to become entirely climate neutral by 2030. Castellum is the only Nordic property and construction company elected to the Dow Jones Sustainability Index (DJSI). The Castellum share is listed on Nasdaq Stockholm Large Cap.
Beyond expectations.
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SOURCE Castellum
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