Fabege is acquiring the property Ormträsket 10 in Stockholm for approximately €72 million (SEK 625 million). On the property is the property complex Wenner-Gren Center, comprising two buildings - one high-rise and one low-rise. The seller is AMF Pension, and possession will be on 30 June.
The total lettable area is approx. 18,000 m², of which 15,000 m² is offices, and the premises maintain a high standard after thorough renovation. The low-rise building is empty due to the renovation work. Fully let, it is estimated that the direct return on the property will be approximately 6%.
The acquired property is located at the northern entrance to the city center, and Fabege already owns two properties with a total of 25,000 m² lettable area in the vicinity.
"The Wenner-Gren Center will form an excellent complement to our existing properties in the area around the North Station - an area on the cusp of very interesting development," says Erik Paulsson, CEO Fabege.