SLP acquires two fully leased logistics properties with great development potential
SLP has today acquired and taken ownership of two fully leased logistics properties, in Örebro and Lidköping, with an agreed property value of a total of SEK 128,3m. The lease agreements are so-called triple net agreements and cover companies within the Frigoscandia group. Total annual rent amounts to approximately SEK 8.5 million, which means an average rent level of approximately SEK 400/sqm.
The property in Lidköping, Taggsvampen 1, with a total area of 71,300 square meters, has a lettable area of approximately 16,000 square meters, of which approximately 11,000 square meters are refrigerated and frozen areas. The lease runs until September 2029. The property in Örebro, Bleckslagaren 9, has a total area of 22,300 square meters with a rentable area of approximately 4,700 square meters, of which approximately 3,200 square meters are refrigerated and frozen areas. The lease runs until February 2033.
“We are very pleased to complete this acquisition of two fully leased development logistics properties. Both properties have significant development potential in the form of building rights, low average rents and high property costs. We plan to, in dialogue with the tenants and in accordance with our continuous sustainability work, upgrade the properties to become more energy efficient and environmentally optimized," says Tommy Åstrand, CEO of SLP.
The properties are acquired through corporate transactions and the seller of the properties is Kilenkrysset. The transaction is financed with own funds and a partial payment in the form of shares. A new issue of 1,000,000 shares of series B has been made, at a price of SEK 36.20 per share, corresponding to a value of SEK 36.2 million. The issue is carried out with the support of authorization from SLP's annual general meeting on April 24, 2024.
For further information, please contact:
Tommy Åstrand, CEO of SLP, telephone: +46 705 455 997
About SLP – Swedish Logistic Property
Swedish Logistic Property - SLP – is a Swedish property company that acquires, develops, and manages logistic properties with sustainability in focus. Value growth is created through development of the properties which are located in Sweden’s most important logistic hubs. The property portfolio comprises a lettable area of approx. 1,075,000 sqm. SLP is a partner that takes responsibility and through this creates value for both tenants as well as for the company and its shareholders. SLP’s share of series B is listed at Nasdaq Stockholm Mid Cap. For further information about SLP: slproperty.se
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