Swedish energy company Vattenfall is set to continue occupying the office building at Uarda 5 in Solna, Stockholm, for another ten years.

By agreeing an early extension of the existing lease for 42,989 sq m until 31 December 2034, Union Investment has secured the associated long-term rental income for its open-ended real estate fund UniImmo: Deutschland.

The property was acquired for the fund in 2016. The Vattenfall headquarters complex consists of four separate blocks ranging from 8 to 13 floors. It is located in the district of Arenastaden, one of the most attractive submarkets outside Stockholm city centre. A regional railway station, several bus routes and a commuter train ensure that Arenastaden is extremely well integrated into the Swedish capital’s public transport system. Upon completion in 2012, the complex received the European Green Building Award.

“We’re delighted that Vattenfall has confirmed its commitment to this location by extending its lease and are pleased to have retained the tenant in our building for many years to come,” said Cathrin Schwartz, Head of Asset Management Europe at Union Investment Real Estate GmbH.