SLP builds 3,000 sqm and extends an existing lease by 10 years in Helsingborg
SLP acquired the property Ackumulatorn 1 in Helsingborg in December 2022 and since the acquisition date, many measures have been taken with the aim of developing the property and thus increasing the property's net operating income. Among other things, investments have been made in new ventilation, charging infrastructure for cars and solar cells. Thanks to these high-yield investments, the property has been both environmentally certified and qualified for a sustainable loan.
The current building on the property, which is fully let, amounts to 15,600 square meters, where the majority is rented by two tenants. Now parts of a building right on the property will be used as an agreement has been signed with one of the existing tenants regarding an extension. The building will be expanded by 3,000 square meters, of which 2,500 square meters is a refrigerated area and 500 square meters is an office. In connection with the extension, the existing cooled surface will also be remodelled, which will lower the operating costs for SLP.
The new fully indexed lease begins to run from 1 May 2025 with a term of 11 years, which means an extension of just over 10 years and a future annual rent of SEK 7.5 million. The rent increase and lower property costs are estimated to provide an increased net operating income for SLP of approximately SEK 5.5 million annually. The project will take place in stages and is expected to be completed by April 2026. The total investment amounts to approximately SEK 65 million. The agreement is conditional on obtaining building permission.
"We are very pleased with the development journey so far with this property. In addition, additional building rights remain to extend further. Our business model is based on creating value growth through continuous development of logistics properties in Sweden's most attractive logistics locations. The development also leads to sustainable assets with sustainable financing and optimized net operating income," says Tommy Åstrand, CEO of SLP.
SLP sees sustainability as an integrated part of the business model and a natural part of the operational work that should contribute to a better environment and a better society, and a good return to the company's owners.
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. 980,000 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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