SLP has today acquired and taken ownership of two fully leased logistics properties, in Orebro and Lidkoping, with an agreed property value of a total of c. €11.4m. The lease agreements are so-called triple net agreements and cover companies within the Frigoscandia group.
The property in Lidkoping, Taggsvampen 1, with a total area of 71,300m2, has a lettable area of approximately 16,000m2, of which c. 11,000m2 are refrigerated and frozen areas. The lease runs until September 2029. The property in Orebro, Bleckslagaren 9, has a total area of 22,300m2 with a rentable area of c. 4,700m2, of which approximately 3,200m2 are refrigerated and frozen areas. The lease runs until February 2033.
“We are very pleased to complete this acquisition of two fully leased development logistics properties. Both properties have significant development potential in the form of building rights, low average rents and high property costs. We plan to, in dialogue with the tenants and in accordance with our continuous sustainability work, upgrade the properties to become more energy efficient and environmentally optimized," said Tommy Astrand, CEO of SLP.
The properties are acquired through corporate transactions and the seller of the properties is Kilenkrysset. The transaction is financed with own funds and a partial payment in the form of shares. A new issue of 1,000,000 shares of series B has been made, at a price of c. €3.2m per share, corresponding to a value of c. €3.2m. The issue is carried out with the support of authorization from SLP's annual general meeting on April 24, 2024.
Written by Leon Goldwater for Europe Real Estate.
Image source - Cision.
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