Sjælsø Gruppen buys development property in Stockholm for approx. €37 million (SE/DK)

Sjælsø Gruppen has entered into an agreement to buy a 37,000-m² development property in Stockholm through its Swedish subsidiary IBI Sverige AB for the amount of approx. €37 million (DKK 300 million). The vendor is AFA Sjuk-försäkring.

The property is situated at Älvsjö close to Stockholmmässan, one of Scandinavia's biggest trade fair and conference centers. The area is characterised by new property developments and Sjælsø Gruppen expects the area to continue its present, exciting growth in the coming years.

The property is very well situated with re-gard to transport and will be further devel-oped in the coming years, primarily with the focus on establishing retail outlets.

Sjælsø Gruppen is already talking to potential tenants in connection with converting the property for retail purposes, and the municipality has approved the change in its use.

The existing rental situation ensures a positive return during the development period.

Continued high level of activity on the retail market
Sjælsø Gruppen has noted a continuation of the high level of activity on the retail market in all Nordic countries with considerable demand from both users and investors.

Sjælsø Gruppen therefore expects to be able to enter into agreements on several new retail projects in 2007.

Source: Sjælsø

Related News