Catena expands cold storage facility for Coop in Enköping

Catena is investing SEK 124 million in an extension for tenant Coop Logistik in Enköping.

8 November 2022, 08.30 CEST  

The extension of approximately 5,800 m² will be built directly adjacent to Catena’s existing logistics facility leased by Coop that comprises approximately 10,900 m² of the Stenvreten 8:33 property in Enköping. The new extension consists of a state-of-the-art cold storage, and both the new and the existing facilities will receive the BREEAM In-Use environmental certification. A solar panel system will be installed, and efforts will be made to add green spaces and create better conditions for biodiversity. The duration of the lease is 14 years with an estimated operating surplus of just over SEK 8.3 million.

“We are pleased that we can now use another part of the property and help Coop to expand on-site, increasing its capacity for cold storage by adding refrigerated spaces where we can also make maximum use of the height,” says Tobias Karlsson, Catena’s regional manager in Stockholm.

Coop is one of Sweden’s largest grocery chains. Coop Logistik is responsible for the efficient operation of transport, terminals and goods supply for Coop’s more than 800 stores.

“With a larger terminal in Enköping, we can expand our operations and better serve existing stores and customers with frozen goods. It will give us greater storage capacity, more loading and unloading bays and enables us to grow in line with Coop. At the same time, it ensures that we can move into an energy-efficient facility where building performance and energy supply have been chosen with care” says Örjan Grandin, CEO of Coop Logistik.  

Summary

• The extension adds 5,800 m² of lettable area
• The total investment is expected to be approximately SEK 124 million
• The investment is financed via own funds and available credit
• Estimated net operating income is SEK 8.3 million
• The tenant Coop has signed a 14-year lease agreement
• The facility will be certified to BREEAM In-Use
• Work on the extension will start in Q4 2022, with Coop taking possession in Q4 2023

For more information, please contact
Jörgen Eriksson, CEO, Tel. +46 (0)730-70 22 42, jorgen.eriksson@catena.se
Tobias Karlsson, Regional manager for Stockholm, Tel. +46 (0)730 702 236 tobias.karlsson@catena.se
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Catena is a listed property company that sustainably develops and durably manages efficient logistics facilities through collaboration. Its strategically located properties supply the Scandinavian metropolitan areas and are adapted for both current and future flows of goods. The overarching objective is to generate a strong cash flow from operating activities to enable sustainable growth and stable returns. As of 30 September 2022, the properties had a total value of SEK 26,667 million. Catena shares are traded on Nasdaq Stockholm, Large Cap.

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