Castellum Invests SEKm 220 in Gothenburg Logistics Facilities

GÖTEBORG, Sweden, Mar 09, 2017 /PRNewswire/ --

Castellum has begun construction of a new logistics building in the Gothenburg harbour area – as the first part a major drive to establish the large-scale logistics required to support expansion of the Gothenburg harbour. The investment is expected to total SEKm 220, including land acquisition.

The new building – part one of the Hisingen Logistics Park – covers an area just over 26,000 sq.m, and is scheduled for completion during the first quarter, 2018. The logistics facilities are being built for flexibility and versatility, and can be divided into two or three modern units, which allow for completely automated storage, with high ceilings, solid bearing characteristics and weather-proof docking. The building will be environmentally certified Miljöbyggnad, aiming for Silver level.

"We're now strengthening our portfolio quality with excellently situated logistics facilities, featuring high versatility and quality", says Henrik Saxborn, CEO for Castellum, Sweden's largest owner of storage and logistics properties.

In total, Castellum has been awarded 127,000 sq.m. of land in the logistics park area, and 60,000 sq.m. of these are planned for construction. The choice of Castellum is based on the fact that the company works with a clear long-term philosophy, demonstrates solid and genuine sustainability efforts, and retains wide-reaching knowledge of storage and logistics facilities, while being a well-established local real estate owner.

The Gothenburg range of vacant storage and logistics buildings offering modern capabilities has been low for many years, greatly limiting possibilities for larger companies to establish in the city. Demand is high right now for storage and logistics facilities. This results primarily from high demand among major industrial players, and in turn, the situation raises demand for third-party logistics. Increasing demand for modern logistics has also been noted among e-commerce enterprises.

After deduction for outstanding commercial papers, Castellum has unused credit exceeding SEK 10 billion, which will be utilized for this investment.  

For additional information, please contact:

Henrik Saxborn,
CEO,
Phone +46-31-60-74-50

Ulrika Danielsson,
CFO,
Phone +46-31-60-74-74

www.castellum.se

Castellum is one of the major listed real estate companies in Sweden. The fair value of the real estate portfolio amounts to approx. SEK 71 billion, and comprises of commercial properties for office, retail, warehouse and logistics with a total lettable area of approx. 4.3 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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SOURCE Castellum