Castellum has through wholly owned subsidiaries acquired two properties for approximately €19 million (SEK 188 million) and decided on new construction and refurbishments of approximately €25.5 million (SEK 255 million).
A property in Hagalund industrial estate, Solna municipality, has been acquired for approx. €5 million (SEK 48 million). The lettable area of approx. 3,700 m² consists of 1,400 m² office premises and 2,300 m² warehouse/industrial remises. At the time of taking possession in the beginning of November the property was fully let.
A property in Kungsbacka has been acquired for approx. €14 million (SEK 140 million). The lettable area of approx. 23,500 m² consists of 4,000 m² office premises and the remaining area are warehouse and manufacturing premises. The property is located next to the northern motorway junction. The land area amounts to 106,000 m² and the property holds an unutilized building permission of approx. 25,000 m². The property is acquired without tenants and the time of taking possession is at the end of December.
In the central parts of Malmö, at the Gustav Adolf square, the work of converting existing premises to modern retail and office premises will be started. The work comprises refurbishment and new construction of approx. 4,000 ² retail premises and approx. 2,500 m² office premises. The investment amounts to approx. €7.5 million (SEK 75 million) and will be completed in stages until completed in the autumn 2008.
Edison Park part 1, with a lettable area of 20,000 m², in Lund was completed in 2001 and the outcome has been very satisfying. The demand for premises that Edison Park represents has increased. The work has now started on building a part 2. In a first stage of the investment, 10,000 m² office premises will be built for approx. €18 million (approx. SEK 180 million). Also, some land and foundation work will be made in order to prepare for building of another 10,000 m² in the future. The first stage of part 2 is expected to be completed during the second quarter 2008. Discussions are held with potential tenants but at the present time there are no signed contracts.