SLP acquired a logistics property, Trelleborg NIO-E 3, located in Trelleborg with a 10-year fully indexed lease. The existing building is currently undergoing an extensive renovation project that is expected to be completed in early May, when the new tenant Yokohama TWS also is expected to move in, and the new lease will start. The agreed property value after the completed renovation project amounts to c. €8m. The annual rental value amounts to c. €0.6m The property has a total lettable area of approximately 11,500m2 and a building right of an additional 4,000m2.
“We are pleased to be able to complete the acquisition of a strategically located logistics property with great development potential in yet another so-called “off-market deal”. The property is located by one of Sweden's so-called "core ports", which makes the property particularly attractive from a long-term perspective. We are also pleased to welcome Yokohama TWS as a new tenant. The property will function as their Nordic central warehouse and the possibility of expansion on the property means that we are well equipped to grow together,” said Tommy Astrand, CEO of SLP.
The property is being acquired through a company transaction and financed with its own funds. Occupancy is planned to take place after the completion of the ongoing renovation project and associated formal permits, which is planned for the beginning of May this year.
Image source - Cision.
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