Hemfosa acquires school and office properties in Eskilstuna at a value of just over MSEK 650
Hemfosa has acquired three centrally located properties in Eskilstuna with the municipality as the largest tenant. Hemfosa already owns two properties in Eskilstuna and through this acquisition strengthens its presence in the expansive Mälardalen region. The acquisition also provides an opportunity for future project development.
The acquisition was carried out at an underlying property value of approximately MSEK 650. The three properties have a total leasable area of approximately 40,800 sqm and the annual rental income initially amounts to approximately MSEK 51. The properties are located in central Eskilstuna in the immediate vicinity of the train station and main shopping street, and mainly include premises for universities/schools and offices.
Mälardalen University, which is currently the largest tenant leasing about half of the floor space, plans to move to new premises in Eskilstuna. Eskilstuna Municipality will take over the majority of this space and sign a 20-year lease. Operations will comprise a municipal upper-secondary school, adult education and offices. Other tenants include Entréskolan, Realgymnasiet and Södermanland County Council.
The economic vacancy rate was about 3 percent upon transferal. When Mälardalen University vacates the premises, Hemfosa will invest to adapt the premises to be taken over by the municipality. The average remaining lease term is just over 10 years, including newly signed leases as of 2020/2021. Transferal took place on June 14, 2019.
“These three properties in central Eskilstuna are a great match for Hemfosa’s portfolio. The acquisition complements our existing portfolio in the city and enables us to continue to develop our cooperation with Eskilstuna Municipality. Furthermore, there is a possible future building right on one of the properties, which could enable the construction of additional buildings in this prime location,” comments Anna Alsborger, Head of Transactions of Hemfosa.
For further information, please contact:
Anna Alsborger, Head of Transactions, mobile +46 70 979 45 72, firstname.lastname@example.org
Caroline Arehult, CEO, mobile +46 70 553 80 26, email@example.com
About Hemfosa Fastigheter
Hemfosa is a Swedish property company focused on community service properties in the Nordic region, with the Swedish state and municipalities as its largest tenants. This provides stable revenue flows and a healthy yield. Hemfosa also aims to create value through active participation in the transaction market. At March 31, 2019, Hemfosa owned properties with a total property value of approximately SEK 37 billion. The company’s ordinary share has been listed since March 2014, and the preference share since December 2014, both on Nasdaq Stockholm. Read more at www.hemfosa.se