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Castellum acquires office building in central Malmö for MSEK 216

Castellum has acquired an office building in central Malmö from the Samhällsbyggnadsbolaget (SBB) real estate company. Occupancy will occur during Q2, 2020.

The acquisition comprises the Von Conow 57 property on Själbodgatan 6-8, with a total leasable area of approx. 6,800 m². Purchase price amounts to MSEK 216 (c. €20.4 million), including acquisition costs. Additional consideration of MSEK 15 will be assessed in the event of further acquisitions prior to the end of September 2020. Major current tenant is the Swedish National Courts Administration, currently renting 98% of the leasable area.

"We’re happy over the possibility of acquiring this office property in central Malmö. The Öresund region is important for Castellum, and our largest investments ever are taking place right now in Malmö with two new construction projects that will house the Swedish National Courts Administration [we reported] and the E.ON international energy company as major tenants [we reported]. This acquisition complements those investments very well,” says Henrik Saxborn, CEO at Castellum AB.

Castellum is currently constructing the Swedish National Courts Administration’s new building in the Nyhamnen district, and in connection with occupancy of that property, planned for yearend 2022, development work will begin at Von Conow 57. The acquisition also means that Castellum can ensure a smooth move for the National Courts Administration to the new premises under construction. The Swedish real estate company intends to finance the investment with existing operating income as well as unutilized credits.