23 October 2009
Swedish property company Jernhusen makes strategic acquisition in Stockholm CBD
Jernhusen acquires the leasehold to the Hotel Scandic Continental building from Swedish insurance company Folksam for approximately €50 million. The property is strategically located opposite Stockholm Central Station and is fully let to the hotel. Savills has represented Jernhusen in the transaction.
The acquisition is of great strategic value since the building will house the new joint entrance to the subway and to the new main station connecting commuter train tunnel Citybanan with Stockholm Central Station. The transaction also improves the overall control of Jernhusens transformation of the Central Station and the development of the Stockholm city district Western City .
The property's lettable area is approximately 12.000 sqm. A new zoning plan is in progress which is expected to bring further development opportunities.
Ulf Nilsson , Savills, comments: “We are very pleased to have contributed to this important acquisition. It further strengthens the Jernhusen's position in the area and may allow Jernhusen to create a new landmark in Stockholm CBD.
For further information, contact:
Ulf Nilsson |
+46 (0)8-545 854 60 |
|
+46 (0)733-58 64 20 |
