Catena acquires a logistics property in Borås for SEK 272 million
Catena is acquiring a newly constructed property in Borås, into which fashion company NELLY will move. The property is being sold by Logistic Contractor.
28 September 2020, 3:30 p.m. CET
Catena and Logistic Contractor have today signed an agreement on the acquisition of the Åre 92 property, which is located in the Municipality of Borås, a key strategic logistics location for Nordic distribution. The property is situated on a plot of 120,000 square metres and has a lettable area of approximately 38,000 square metres. Preliminarily, the acquisition will be implemented on 1 February 2021 as a corporate transaction at a predetermined property value of SEK 272 million, prior to the deduction of deferred tax. Catena has signed a 15-year lease agreement with NELLY, with the estimated operating surplus amounting to approximately SEK 16.5 million. The newly-constructed and energy-efficient facility offers good opportunities for expansion, with the lease agreement including an option for an expansion of 13,000 square metres.
“Catena is very pleased to be acquiring this fine facility in an excellent logistics location. Well-considered and efficient logic solutions are a prerequisite for the position held by NELLY in e‑commerce and fashion. We look forward to being an active speaking partner in the company’s continued development,” says Benny Thögersen, CEO of Catena.
“We are happy that Catena will be our landlord and look forward to a rewarding partnership. The fact that Catena is a long-term player with a large property portfolio and a high degree of expertise in our segment represents an element of security on our continued journey,” says Anders Anderberg, Chief of Supply Chain at NELLY.
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Catena is a listed property company that, through collaboration sustainably develops, owns and manages efficient logistics facilities. Its strategically located properties supply the Scandinavian metropolitan areas and are adapted for both current and future goods flows. The overall objective is to generate strong cash flow, enabling stable development and providing shareholders a favourable total return in the long term. As of 30 June 2020, the properties had a total value of SEK 17,222.5 million. Catena’s shares are traded on NASDAQ Stockholm, Mid Cap.
This information is such that Catena AB (publ) is obliged to publish under the EU Market Abuse Regulation. The information was provided by the persons mentioned in this press release, for publication at the time stated above.