In 2017/2018 Revelop acquired two neighbouring underinvested industrial assets with very low level of exploitation. During its ownership Revelop has consolidated the building rights of the two assets, increasing the volume with 70%, to create an attractive industrial- and logistics development.
Subsequently, in spring 2020, a 20-year lease was signed with Ögrengruppen, one of Sweden’s largest producers of meat and charcuteries, to establish 13 000 sqm purpose-built state of the art industrial facility, including production, refrigerated warehouse and logistics space.
Simultaneously, a turnkey fixed price construction contract was signed to deliver the building according to the standard Miljöbyggnad Silver*, the highest possible environmental rating given the usage of the building. Revelop’s total investment, including the original purchase price of the assets, aggregates to around SEK 400 million.
The tenant will consolidate their operations from nine buildings to one new facility, which will significantly reduce facility related energy consumption with up to 65%. Supply and transport emissions will also be reduced. Further ESG initiatives include electric vehicle supply equipment (EVSE), solar panels, and heat recovery to reduce energy consumption. At the same time, the initiative, allows for more efficient use of already zoned land, creating in-fill opportunities with high level of exploitation.
“I’m very pleased with the team’s execution of the repositioning and this asset. It’s been a complex process to turn two underinvested sheds into a state-of-the-art core assets with highest possible ESG credentials. The facility is built-to-suit for Ögrengruppen, currently operating in nine different buildings, which will reduce its climate footprint dramatically. I’m pleased to deliver such an outstanding high-quality asset to Savills IM and welcome them as the new long-term institutional owner,”vsays Thomas Sipos, Group CEO and Executive Partner at Revelop.
The project was delivered in time and within budget during challenging conditions with regards to materials sourcing and construction price inflation. The tenant took possession of the building 9 December and the asset was transferred to Savills IM on the 23 December 2022.
*As a part of Revelop’s comprehensive ESG strategy the construction will achieve the certification Miljöbyggnad Silver provided by the Swedish Green Building Council, which is rare within the industrial and logistics segment.