Vasakronan acquires property on Norra Älvstranden in Göteborg

Vasakronan has acquired the Lindholmen 28:1 property in Göteborg through Lindholmskajen Fastighets AB. The seller is GFK Personal AB and the premises are leased to GF Konsult AB. The property, which was built in 2003-2004, is an office building of approximately 3,900 square meters and is in a prime location on Norra Älvstranden in Göteborg. The net value of the property is estimated at SEK 104 M.

“This is Vasakronan’s first property on Norra Älvstranden,” comments Rolf Åkerman, Regional Manager at Vasakronan in Göteborg. “The area has developed into an attractive and desirable location for offices and we see this as a growth area in Göteborg.

“The local rental market in Göteborg is characterized by marked optimism and rental levels have increased during the past six months, and the highest rents in central locations rose to slightly more than SEK 2,300 per square meter and in prime locations rental levels are about SEK 2,800 per square meter.

Vasakronan is the largest player in the commercial market in central Göteborg. Property holdings are concentrated in such attractive submarkets as within Vallgraven, Östra and Västra Nordstaden, Gullbergsvass and Gårda. The property portfolio in Göteborg has a market value of SEK 6.5 billion and Vasakronan has 25 properties in the city. Rental revenues amount to about SEK 440 M and the vacancy rate is approximately 2%.