NCC has sold the Lyckobrunnen logistics project in Brunna, Sweden, to M&G Real Estate for €17.8m (SEK 190 m). The property comprises c. 12,800m² and is fully leased to Orvelin Group, Cosentino and Engelmanns. The scheme enjoys close proximity to Stockholm and easy access to the E18 highway. The property is expected to be certified BREEAM.
“We are delighted that M&G has chosen to invest in Brunna, where we have been active in developing one of Stockholm’s most attractive logistics nodes. Expanding e-commerce is driving demand for more attractive and sustainable logistics properties, a segment in which we aim to remain a leading player,” said Katarina Wahlin Alm, Manager, NCC Property Development in Sweden.
“We are very pleased to acquire this newly developed logistics asset with long term cash flow for the M&G European Property Fund in one of the best logistics locations in the Nordics. In today’s market, where larger logistics portfolios are traded at a premium, we prefer to acquire assets individually to secure higher returns for our investors,” commented Thorsten Slyta, Director of Nordic Region at M&G Real Estate.
