Skotten 6 is on Drottninggatan in the City of Stockholm, which is one of Sweden’s busiest and most famous pedestrian streets with a footfall of more than 20 million people every year. Although Skotten is known as ‘Glashuset’ today, it used to be called ‘Bohagshuset’, as it formed part of the historic PUB department store on Hötorget square. The property is now home to both offices and retail units across several floors.
“Atrium Ljungberg’s business model is based on developing attractive urban environments. These comprise large coherent areas that have a mix of offices, retail, residentials, culture and education. For us, selling Skotten 6 is a natural step forward as we focus our property portfolio on areas where we can realize our vision and urban development strategy,” says Annica Ånäs, CEO of Atrium Ljungberg.
The purchase price is based on an underlying property value of SEK 1,900 million. The total rental value is SEK 95 million and the property has an economic vacancy rate of 12%. The transaction gives a result after tax of approximately SEK -36 million based on the valuation at year-end; including SEK 7 million in realized changes in value after deduction of transactions cost, SEK -19 million in deferred tax net, and SEK -24 million for the impairment of goodwill. Closing will take place on 31 January 2023 and the result will be reported in the financial statements for the first quarter of 2023.