The property has been in the seller's possession for over 100 years. The building was erected in the years 1907-1911 by A. Boström as a magnificent Art Noveau palace, later called "Boströmska Palatset". The property was divided into three units, Strandvägen 7A, 7B and 7C and is considered one of Strandvägen's most beautiful buildings. During the years 1930-1960, several embassies were located in the building, but in 1966 the building was converted into a hotel.

The building consists of a basement and seven floors, and the lettable area amounts to roughly 5,500 square meters. Today, it houses 130 hotel rooms, a restaurant, conference room, bar, SPA and gym.

A new twenty-year lease for the hotel and the restaurant has been signed in connection with the change of ownership.

"My siblings and I have a solid history in the property and are still a long-term tenant with Hotel Diplomat, which will continue to be a thriving hotel and restaurant business and will be further developed together with our new landlord," says Anna Cappelen, Chair of Hotel Diplomat AB.

"We are extremely happy and proud of the opportunity to acquire such a landmark in an unbeatable location. Few properties change hands on Strandvägen and we are very happy to be asked. We thank the Malmström family for the trust to manage their family treasure and look forward to a close collaboration with the seller in the work to develop the building," says Carl Bodin at Anders Bodin Fastigheter.

Anders Bodin Fastigheter AB has previously owned the Nobis Hotel at Norrmalmstorg and Värdshuset Stallmästaregården.

Brick and Cederquist assisted Anders Bodin Fastigheter as legal advisers on the acquisition.

Newsec acted as advisor to the seller in the transaction together with Mannheimer & Swartling Advokatbyrå and Lars Lenner who was the family's private advisor.