GÖTEBORG, Sweden, March 5, 2018 /PRNewswire/ -- Castellum has begun construction of a warehouse and logistics building in Brunna, part of the Kungsängen area, just outside Stockholm. The building constitutes the first element to reinforce large-scale logistics operations, and further support expansion of the Stockholm-West Logistics Area. As calculated, the investment amounts to SEKm 140, including costs of SEKm 41, for previous property acquisition and preliminary groundwork at the site.
Development is currently running hot in Stockholm region's next mega-area for warehousing and logistics: Stockholm-West, in Brunna. Strategically situated near two major European highways – the E18 and the E4 – the building will be well-placed and conveniently accessible. Several established commercial enterprises and service companies – along with warehousing and logistics – are already established in the area. In order to meet market demand and increase quality in the real estate portfolio, Castellum will begin the first of several newly constructed warehouse and logistics premises in one of Stockholm's strongest development areas.
Castellum's logistics facilities comprise 8 800 sq.m, and are expected to be completed during the first quarter of 2019. The facilities will be environmentally certified according to the Miljöbyggnad classification system, Silver level.
"Castellum continues to strengthen the quality of our real estate portfolio with a versatile and modern warehouse-and-logistics building in one of Stockholm's most attractively situated and accessible areas. Added to that, vacancy rates in the vicinity are low, and we carry out the groundwork for continued expansion," says Castellum CEO, Henrik Saxborn.
Demand for warehouse and logistics facilities is currently massive in the Stockholm area. Backed by solidly based market demand, Castellum has started a new construction, without specific customers, and well-armed with versatile adaptation solutions that can be applied as the project takes shape. With full leasing, the investment is assessed to generate revenues of approx. SEKm 11.
For additional information, please contact:
Director of Corporate Communications
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
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The following files are available for download:
Press release 180305
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