Swedavia sells holding in Landvetter Logistik Center for 100 million kronor capital gain
Swedavia has sold its 50 per cent holding in Landvetter Logistik Center. The buyer is Bockasjö, which already owned half of the shares in the joint venture. As a result, Swedavia has made a total capital gain of about 100 million kronor from its investment. The sale is line with Swedavia's strategy to create value by developing properties near its airports in order to reinvest in the competitiveness of its airports.
Swedavia and Bockasjö formed Landvetter Logistik Center in 2015 in order to develop logistics properties at Göteborg Landvetter Airport, as part of Swedavia's investment in Airport City Göteborg, which is now taking shape there. Three logistics properties have been built, and all the premises, with about 90,000 square metres of floor space, have been leased. The tenants include PostNord TPL, Dawa Däck and Rajapack.
"The first logistics park at Göteborg Landvetter Airport has now been completed, which is an important milestone that confirms the potential of our investment in Airport City Göteborg. The sale is another example of our successful strategy to create value through property development in order to reinvest in the competitiveness of our airports," says Jonas Abrahamsson, Swedavia's president and CEO.
One of the three logistics properties was sold to Bockasjö in August this year. The capital gain from the sale of Swedavia's holding in the joint venture is about 80 million kronor, while the capital gain from the sale of the logistics property is about 20 million kronor. The total capital gain of about 100 million kronor will be recognised in the third quarter of 2019.
"The location at Göteborg Landvetter Airport is optimal. We are situated in the middle of a logistics hub, close to air transport, to Gothenburg, to the harbour and also to major road networks," says Joakim Hedin, CEO of Bockasjö and CEO of Landvetter Logistik Center.
The transfer to Bockasjö took place on September 13.
Airport City Göteborg, which will offer warehouse and logistics facilities, offices, hotels, retail premises and workspaces, is being developed by Swedavia together with its partners immediately adjacent to Göteborg Landvetter Airport. The next step in this development is a business park for operations, showrooms and offices, which will be set up next to the logistics area, with construction beginning in 2020.
September 17, 2019
For further information, please contact Swedavia's press office at tel. +46 (0)10-109 01 00 or press@swedavia.se
The Swedavia Group owns, operates and develops ten airports across Sweden. Our role is to create the access Sweden needs to facilitate travel, business and meetings. Safe, satisfied passengers are the foundation of Swedavia's business. Swedavia is a world leader in developing airports with the least possible environmental impact. The Group has annual revenue of more than 5.7 billion Swedish kronor and some 3,100 employees.