Stendörren builds a 3,700 sqm warehouse and showroom facility in Bromma after signing a 10-year lease
Press release
23 september 2024
Stendörren Fastigheter AB (publ) has signed a 10-year lease with a customer regarding approximately 2,500 sqm warehouse and showroom premises on the property Båglampan 25 in Bromma. The remaining 1,200 sqm of the building will constitute garage space, intended to be let to third parties. The estimated annual net operating income is SEK 6.4 million, and the total new investment, excluding building right value, amounts to approximately SEK 83 million. The implicit value of the utilized building right is estimated to approximately SEK 33 million, which is three times the book value of the building right. Building permit has been obtained and preparatory work has already begun. The client is expected to take possession of the premises in the fourth quarter of 2025.
"We are pleased to have the opportunity to develop a new building in collaboration with the client, adapted to its operations in the strategically well located Ulvsunda industrial area in Bromma. This new development complements Stendörren’s existing portfolio in Bromma and confirms both the economic and strategic value of continuously developing the company's substantial bank of 640,000 sqm building rights into attractive cash flow generating properties." says Maria Jonsson, Head of Development at Stendörren.
"We are pleased that we have completed and signed purchase agreements regarding six properties totaling approximately SEK 738 million during the third quarter. Combined with the development of Båglampan 25, this brings our total new investment volume to SEK 821 million. The annual net operating income from these acquisitions and this new construction project amounts to a total of SEK 59 million, representing an 8.5% increase in Stendörren's total annual net operating income." says Erik Ranje, CEO of Stendörren.
For more information, please contact:
Erik Ranje, CEO, +46 (0)8-518 331 00 or erik.ranje@stendorren.se
Maria Jonsson, Head of Development, +46 (0)70-811 09 85 or maria.jonsson@stendorren.se
Stendörren Fastigheter AB (publ)
Stendörren Fastigheter AB (publ) is an expansive property company listed on Nasdaq Stockholm Mid Cap. Our business concept is to create profitable growth in net asset value by managing, developing and acquiring properties and building rights within logistics, warehouse and light industry in Nordic growth regions. When commercially viable, we rezone such existing properties and thereby create residential building rights for further development and management, mainly in Greater Stockholm and the rest of the Mälardalen region.
For more information about Stendörren Fastigheter AB (publ), see: www.stendorren.se/en/.
