Catena acquires property in Linköping for SEK 68.1 million
Today, Catena is acquiring the Mappen 1 property in Linköping for a purchase consideration of SEK 68.1 million. The slightly more than 22,000 square-metre property is strategically located adjacent to Catena’s other two properties in the area.
28 February 2018, 3:30 p.m.
Catena is today taking possession of the Mappen 1 property in Linköping. The acquisition is being conducted as a property transaction at a value of SEK 68.1 million. The lettable area comprises more than 22,600 square metres. The site as a whole covers 110,000 square metres. The lease value of the property is slightly more than SEK 9 million with a remaining lease term of approximately two years and the property is almost fully leased. The development rights for the land are estimated at slightly more than 30,000 square metres, and the location, adjacent to Catena’s other two properties in the area, Mappen 3 and Mappen 4, provide opportunities for expansion. The Mappen 1 property is well situated on main road 35, close to both Linköping City Airport and the E4 motorway. The acquisition is being made using the Company’s own cash and bank balances.
“Alongside the new construction currently in progress at Mappen 4, Catena now has the opportunity to establish a major FMCG cluster in Linköping. The acquisition provides us with both economies of scale and the possibility of new construction in line with our ambitions for how Catena should grow,” comments Maths Carreman, Catena’s Regional Manager in Stockholm.
For further information, please contact
Benny Thögersen, CEO Maths Carreman, Regional Manager, Stockholm
Tel. +46 (0)706-60 83 50 Tel. +46 (0)730-70 22 12
Catena’s mission is to own, effectively manage and pro-actively develop properties in prime locations that offer the potential to generate a steadily growing cash flow and favourable value growth. Catena’s overriding goal, based on its focused orientation, is to give shareholders a favourable long-term total return. As of 31 December 2017, the properties had a total value of SEK 13,131,1 million. Catena AB is listed on the Nasdaq Stockholm exchange.
This information is such that Catena AB (publ) is obliged to publish under the EU Market Abuse Regulation. The information was provided by the contact persons mentioned in this press release, for publication at the time stated above.