Castellum has developed a total of about 49,000 sqm in the Smista area.

“This means that we will strengthen our position in Smista - an area which the last fifteen years developed into Stockholm's main cluster for car sales”, says Henrik Saxborn, Castellum's CEO.

One investment, which involves a new property for the expanding Hedin Bil, refers to the a new construction of approx. 12,500 sqm of which 5,500 sqm will be premises for car dealership and 7,000 sqm garage. The investment is calculated to MSEK 162, of which MSEK 14 refers to own land. The new building is expected to be completed during the fourth quarter of 2017 and implemented in accordance with environmental certification system Miljöbyggnad, with the ambition to reach the Silver level. A 15-year lease has been signed with Hedin Bil with an annual rental value of MSEK 13.5.

The second investment refers to a new construction of approx. 6,900 sqm for the tenant Veho Bil´s expansion, where 2,200 sqm are premises for a car dealership and the residue for a garage. The investment is calculated to MSEK 60, of which MSEK 1 refers to own land, and to be completed during the third quarter of 2017. The new construction is carried out according to the environmental certification system Miljöbyggnad with the ambition to reach the Silver level. A 10-year lease has been signed with Veho Bil with an annual rental value of MSEK 5.8.

Castellum has unutilized credit facilities of approx. SEK 8 billion (€830M), which will be used for investments.