Castellum AB has acquired the property Mässhallen 2 in Hyllie, one of Malmö's main growth markets, through its wholly owned subsidiary Fastighets AB Briggen. The property has a total area of over 7,300 m² and will be fully let at the time of change of possession. The investment is Castellum’s first in the Hyllie area and amounts to SEK 327m (€35m) and will change possession when the property is completed in April 2016.
The property is located 400 metres from Hyllie station and next to Malmö Exhibition and Malmö Arena. The building will have eight floors and comprises approx. 7,100m² office space, 200m² retail/ restaurant as well as 29 parking spaces built in the basement.
Then tenants are among others NCC, Boozt.com and Zumtobel. The average period of lease contract is, at the time for change of possession, is 7.1 years and the total rental income is approx. SEK 18m (€2m). Castellum has long-term, underutilised credit facilities of SEK 4bn (€430m) of which SEK 327m (€35m) will be utilised for the acquisition.
The office will be certified according to the international BREEAM environmental certification system at the Excellent level. This means that considerable attention will be paid to the building's indoor environment, ecology and life cycle, as well as energy and water consumption.
"This acquisition is a strategic first step in order to position ourselves as a driving force in Hyllie," says Henrik Saxborn, CEO of Castellum AB. "A great part of Malmö's growth will occur in this area. The deal will be a good basis for our continued, long-term development to establish more quality projects in the area."
