Tritax EuroBox has completed the acquisition of the land and agreed to fund the development of a 17,832m² prime sustainable logistics asset for €39.4m. The asset is situated adjacent to the 13,181m² development opportunity in Rosersberg in Sweden acquired by the company in September 2021.
The development is being undertaken by Verdion, a highly experienced European industrial and logistics real estate specialist. Construction is due to commence in June 2022, with practical completion targeted in May 2023. The development is targeting a minimum BREEAM Very Good certification, and the construction will include a range of energy-saving initiatives and staff wellbeing measures. Verdion is also developing the Company’s adjacent development asset in Rosersberg, which was acquired in September 2021 and received a building permit in December 2021. Construction at this site will commence in February 2022 and discussions are already underway with potential occupiers. The site enjoys close proximity to Stockholm Arlanda Airport, on the E4 motorway to Stockholm city centre. Given its location, occupier demand for logistics space in Rosersberg is amongst the highest in Sweden and its importance as a hub is expected to increase further in the coming years.
Alina Iorgulescu, Assistant Fund Manager of Tritax EuroBox, commented: “This investment reinforces our shift to a higher proportion of value-add assets by investing in development opportunities alongside established development partners. We are particularly pleased to be increasing our exposure to the Stockholm logistics market where we are seeing growing occupational and investor demand. We have already made good progress at our adjacent asset, obtaining the building permit in December, meaning we are looking forward to starting on site in a few weeks’ time."
