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Castellum invests €23m in Gothenburg logistics facilities

10-Mar-2017


Property Magazine

Castellum has begun construction of a new logistics building in the Gothenburg harbour area – as the first part a major drive to establish the large-scale logistics required to support expansion of the Gothenburg harbour. The investment is expected to total €23 Million (SEK 220 Million), including land acquisition. 

The new building – part one of the Hisingen Logistics Park – covers an area just over 26,000 sq.m, and is scheduled for completion during the first quarter, 2018. The logistics facilities are being built for flexibility and versatility, and can be divided into two or three modern units, which allow for completely automated storage, with high ceilings, solid bearing characteristics and weather-proof docking. The building will be environmentally certified Miljöbyggnad, aiming for Silver level.

“We’re now strengthening our portfolio quality with excellently situated logistics facilities, featuring high versatility and quality”, says Henrik Saxborn, CEO for Castellum, Sweden’s largest owner of storage and logistics properties.

In total, Castellum has been awarded 127,000 sq.m. of land in the logistics park area, and 60,000 sq.m. of these are planned for construction. The choice of Castellum is based on the fact that the company works with a clear long-term philosophy, demonstrates solid and genuine sustainability efforts, and retains wide-reaching knowledge of storage and logistics facilities, while being a well-established local real estate owner.

The Gothenburg range of vacant storage and logistics buildings offering modern capabilities has been low for many years, greatly limiting possibilities for larger companies to establish in the city. Demand is high right now for storage and logistics facilities. This results primarily from high demand among major industrial players, and in turn, the situation raises demand for third-party logistics. Increasing demand for modern logistics has also been noted among e-commerce enterprises.

After deduction for outstanding commercial papers, Castellum has unused credit exceeding €1.05 billion (SEK 10 billion), which will be utilized for this investment.  


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