21 October 2009
Jernhusen sells land under Stockholm World Trade Center
Swedish property company Jernhusen, represented by Savills, sells land under Stockholm World Trade Center.
Alecta, owner of leasehold Stockholm World Trade Center acquires the land for €59 million. Jernhusen retains the ownership of City Terminal, a part of the building, through a three-dimensional property regulation.
The transaction is motivated by the fact that Alecta as leaseholder controls the major part of the property. As landowner, Jernhusen has no possibilities to develop the office property.
By keeping City Terminal, Sweden 's largest bus station, Jernhusen can continue to develop and integrate the terminal with Stockholm Central Station and thereby enable more sorts of public transportation to gather in the same area.
Per Berggren, CEO Jernhusen, comments: “The transaction structure allows Jernhusen to take an overall view of the development of the Central Station area. The transaction also enables Jernhusen to make future investments in the Central Station area and Western City and contribute to the enhancement of public transportation and a better environment.”
Ulf Nilsson , Head of Savills Corporate Finance says: “I am very pleased to see this very complex transaction completed after a long period of negotiations. Both parties have been given full ownership of the parts of the building which they prefer to own and develop”.
For further information, contact:
Ulf Nilsson |
+46 (0)8-545 854 60 |
|
+46 (0)733-58 64 20 |
