Mitsubishi Estate London has acquired a c. 7,000m² office building in Stockholm’s central business district from AFA Insurance. The seven-storey building is strategically located within the CBD with direct internal access to Hotorget metro station through the basement. The company expects to undertake a full refurbishment of the asset with a view to re-letting the building. The project builds on the existing relationship between the two companies. The purchase price was not disclosed.
Yuichiro Shioda, Managing director and CEO of Mitsubishi Estate London, said: “Trends in the Stockholm office market have been positive in recent years, boosted by a consistently robust underlying economic environment, a strong labour market, high demand and scarce supply. Whilst the Covid-19 pandemic has impacted on all occupational markets, the supply/demand imbalance within the Stockholm market indicates that it should recover more quickly than other European capitals.”