Wihlborgs has acquired the Vaadshuset 2 property above Hyllie station in Malmo, with a direct connection to Malmo Arena and the Emporia shopping centre. The property, with its smaller office premises, will become an important complement to Wihlborgs’ existing offering in the area.
Vardshuset 2 was Hyllie’s first office building (2011). The entrance faces the Hyllie station square and the ground floor includes high foot traffic establishments like Pressbyran as well as four restaurants. The largest tenants in terms of floor space are Folktandvarden, K-prefab, Numera Massor and NKT HV Cables AB. The property has a lettable area of 3,900m2 and of this, just under 1,400m2 are vacant.
The building currently has high operating costs and energy class G. However, Wihlborgs sees clear energy-saving potential and will implement several measures to improve the building’s energy performance.
The office building is being acquired at an underlying property value of €16m through a corporate wrapper, with the transfer scheduled for 31 May. The seller is Schroder Real Estate Kapitalverwaltungsgesellschaft mbH on behalf of Schroder Nordic Real Estate Fund.
“This property has a unique location in Hyllie and will be an excellent addition to our portfolio in the area. We will now be implementing several operational improvements at the property, and we look forward to offering our customers a slightly different mix of premises than we have in the rest of our offering in this attractive neighbourhood,” said Ulrika Hallengren, CEO of Wihlborgs.
Image source - CIsion.
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