Castellum invests €23.3 million and sells €5.9 million (SE)

At the beginning of the year there were new constructions, extension and reconstructions with a remaining investment volume of about SEK 550 million (approx. €56.5 mln.). Since then, decided and launched major projects totalling SEK 134 mln. at an average yield of just over 10% at targeted occupancy rates.

In the area Boländerna and the property Galleria Draget in Uppsala, a new construction of 4,300 m². retail area, and reconstruction of 9,700 m² retail area has been started. Leases are signed for approx. 30% of the areas and negotiations on further approx. 20% is ongoing. The investment, which will be completed during the second quarter 2011, is estimated to SEKm 64.

In the same area a new production for SEKm 15 has been started of fully let 1,600 m² retail area. In Örebro on Aspholmen a new production for SEKm 15 has started of fully let 1,700 m² retail area. Both of the new productions are estimated to be completed by autumn 2010. On Hisingen in Gothenburg SEKm 21 have been invested in 2,000 sq. m. new retail area. The premises, which are expected to be completed in last quarter 2010, are fully let. In central Malmö reconstruction of 2,300 m² office area has been started for a new customer. The investment is estimated to SEKm 19 and to be completed in autumn 2010.

In the Bäckebol-area, close to E6, in Gothenburg a site leasehold has at the end of March been acquired for SEKm 83. The acquisition includes three fully let buildings totalling 22,700 m², of which 20,900 m² warehouse.

In the Backa-area in Gothenburg four smaller warehouses and office buildings totaling approx. 9,000 m² have been sold for a total of SEKm 57, equivalent to 12% of valuation at the year end. The sale generated a profit of 6 SEKm and a positive effect on deferred tax of SEKm 3.

Source: Hugin

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