The acquisition of the Glasblåsaren 14 property will be conducted as a corporate transaction at an underlying property value of SEK 206 million following deductions for deferred tax. The seller is fund management company Pareto Eiendomsinvest Nordic AS. The property, which was constructed in 2009, stands on a plot of lane of approximately 22,000 sqm and has lettable space of 9,640 sqm. Most of the space comprises a cold storage warehouse, and 2,180 sqm comprises a high-bay warehouse with a ceiling height of 20 metres. The estimated net operating surplus amounts to SEK 10.7 million and the property is fully let with a remaining lease term of 12 years. The geographical location alongside the major transport and cargo route between Malmö, Gothenburg and the Greater Stockholm area makes this an excellent logistics location.
“Catena already owns several properties in Linköping and the acquisition allows us to take the operations up a notch at this important node in the logistics network. We also hope that gaining this opportunity to establish a relationship with Scan, a stable tenant in a segment in which we already have considerable knowledge and experience, will lead to a long and rewarding future collaboration,” says Tobias Karlsson, Regional Manager for Stockholm at Catena.
The tenant, Scan, is one of the largest players in the Swedish food industry. Linköping and the facility in question comprise Scan’s national distribution centre – the property is also adjacent to one of Scan’s own production facilities at the Tornby industrial site.
Catena will take possession of the property on 31 August. The detailed development (zoning) plan allows for future construction on the property.