Kungsleden has acquired the LEED Platinum-certified STUDIO mixed-use complex for €98m (SEK1bn). The property, located in Universitetsholmen, was completed in 2017 and totals 18 250 m² of rentable space spread across 14 storeys. It enjoys a close proximity to the central station and benefits from a spectacular view of both port and the city.
STUDIO complex compromises office space, hotel, as well as retail units, restaurants and cafes. The largest tenants include Story Hotel, EY, United Spaces, Scan Coin and Altitude Meetings. The average rental contract duration amounts to almost seven years and the total rental value to around €5.9m (SEK 60m).
“We are very pleased to have finalized another acquisition of a state-of-the-art property with the highest sustainability rating from Skanska. The property becomes part of our core holdings with stable and long-term cash flows from good tenants that raise Kungsleden’s earnings at a low risk”, says Henrik Gerdin, Head of Transactions at Kungsleden.
“STUDIO strengthens our qualitative customer offering in Malmö with an exciting concept where small and large companies can meet in an international environment that creates dynamics and creativity. Kungsleden’s vision is to create attractive and sustainable places that enrich people's working day and STUDIO is an excellent example of what this can mean”, says Ulrica Sjöswärd, Head of Real Estate Gothenburg / Malmö at Kungsleden.
“We are proud to have developed STUDIO that, with the Work, Stay, Play concept, has created a new meeting place in the city that invites creativity and unexpected meetings. The willingness to invest in Malmö is strong and we are especially pleased with the fine cooperation with Kungsleden. We are now looking forward to our continued venture at Universitetsholmen with the projects Epic and Citadellsstaden”, says Camilla Wieslander, CEO at Skanska Öresund.