PR Newswire | Mar 9, 2021 02:13AM EST

courtyards

03/09 02:12 CDT

Castellum ready to invest in Stockholm with new office buildings and attractive courtyards GTEBORG, Sweden, March 9, 2021

GTEBORG, Sweden, March 9, 2021 /PRNewswire/ --After successful renovation of the historic property on Torsgatan 22-30, Castellum is ready for the next stage in the renewal of the entire block by planning for three office buildings with modern workplaces and activities that attract visitors on evenings and weekends.

-Planning process has begun for the investment estimated at approximately SEK 500 million, which would mean that we will have invested close to 2 SEK billion in this fantastic neighborhood. These are strategically sound investments and letting is going well despite the pandemic, says Martin Bjrn, CEO of Castellum Region Stockholm-Norr.

The detailed plan is being processed and will be out for public consultation later this year. The starting point for Castellum's work in line with city's vision is to provide more modern workplaces in the city center, preferably on existing "gaps". Behind the facade towards Torsgatan, the block has two courtyards large enough to build on, and far too unused to stand empty. By using part of the courtyards to build three office buildings, Castellum wants to add both more workplaces and businesses that increase the area's appeal. The goal is to enhance Torsgatan further, but also to make Hlsobrunnsgatan a safe and pleasant city street with nice houses and small squares.

The ambition is for vibrant spaces, available to the public both towards Torsgatan and on the new street level locations towards Hlsobrunnsgatan. With functions such as a restaurant, caf, padel court, outdoor gym and outdoor workplaces, a safer environment is created that more people want to stay in.

-Since we mainly build on our own undeveloped plots, we can achieve good profitability. The plans are still at an early stage, but I have high hopes for another successful investment in central Stockholm, says Martin Bjrn.

The business in brief:Castellum intends to build three office buildings in the skaret propertyInvestment volume: approximately SEK 500 millionRental area: approximately 8,000 sqmPreliminary completion: 2025

For more information please contact:Henrik Saxborn, CEO Castellum, +46.31.60 74 50Martin Bjrn, VD Castellum Region Stockholm-Norr, +46.738.09 43 11

About CastellumCastellum is one of the Nordic region's largest listed real estate companies with a property value of SEK 103 billion. We are active in 14 Swedish growth regions as well as in Copenhagen and Helsinki. Every day, 250,000 people go to work in our premises. We develop flexible workplaces and logistics solutions with a lettable area of 4.4 million square meters. One of our sustainability goals is to be entirely climate neutral by 2030. Castellum is the only Nordic real estate company selected by the Dow Jones Sustainability Index (DJSI). The Castellum share is listed on the Nasdaq Stockholm Large Cap.

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SOURCE Castellum