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Castellum Begins Construction on Warehouse in Lund

GÖTEBORG, Sweden, Jan. 16, 2020 /PRNewswire/ -- Castellum has started construction on new warehousing facilities, comprising just over 5,000 sq.m. of the Gastelyckan industrial park, in the periphery of central Lund. Total investment, including property acquisition, has been calculated to MSEK 88.

The planned building will go up in Lund's largest industrial and business-operations area of Gastelyckan's southern end, where enterprises mostly carry out vehicle sales, machine/equipment rentals and construction retail activities.

"Lund is situated in the expanding business region of Öresund and the city enjoys a long tradition of research and entrepreneurship that includes major international and national players. This sort of background convinces us that we're making a very strong investment for Castellum," says Henrik Saxborn, CEO at Castellum AB.

The building will consist of three storage and retail-outlet spaces, of which the largest will be leased by Mobility Motors, Sweden's largest Nissan dealer. They have signed a ten-year leasing agreement for approx. 2,000 sq.m. for operations comprising a retail storefront/showroom, a mechanical workshop and admin offices, with occupancy planned for yearend 2020/2021. Occupancy for remaining tenants is planned for spring, 2021.

To date, Castellum owns four other properties in the Hasslanda and Gastelyckan industrial and business areas, which are located adjacent to each other.

Project summary:

Castellum is constructing the Sellerin 3 building, located in the Gastelyckan industrial area of southeast Lund

Investment: MSEK 88, including a property acquisition price of MSEK 14  

Occupancy: Yearend 2020/2021

Leasing value: approx. MSEK 6.8

Major tenants: Mobility Motors (Nissan)

Leasable area and leasing rate: Just over 5,000 sq.m., with an economic leasing rate of approx. 40% to date

For further information, contact:
Ulrika Danielsson
CFO
Castellum AB
+46-706-47-12-61

Castellum is one of the largest listed real estate companies in Sweden. Property values total SEK 92.7 billion and holdings mainly comprise office, warehousing/logistics and public-sector properties, covering a leasable area of 4.2 million square metres. Castellum operates through a decentralized organization with a strong and clear local presence in 17 Swedish cities, as well as Copenhagen and Helsinki. Castellum is the only company from the Nordic real estate and construction sector elected to the Dow Jones Sustainability Index (DJSI), joining a select group of companies who achieve world's-best ranking on sustainability issues. In 2019, Castellum received several awards for sustainability efforts, including Global Sector Leader from GRESB. This means that Castellum ranks first in the world for the offices-and-logistics sector. In addition, Castellum was awarded Gold-level placement for sustainability reporting by the EPRA (European Public Real Estate Association). The Castellum share is listed on Nasdaq Stockholm Large Cap. For further information, visit www.castellum.com.

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https://news.cision.com/castellum/r/castellum-begins-construction-on-warehouse-in-lund,c3009021

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