Kungsleden's property portfolio constitutes of commercial premises in Greater Stockholm, Greater Gothenburg, southwestern Sweden and the Mälar Valley within the categories Office, Industry/Warehouse and Retail.
Since we implemented a new strategy in 2013 we have worked to refine and optimize our property portfolio to our chosen growth markets and categories. For example, we have lowered our municipality presence from over 140 to approximately 20 today. Also, we have raised the quality level of our properties which is partly reflected in the increased portfolio value.
We have already achieved most of our refinement efforts set out in 2013, with focus now shifting to expansion of the portfolio based on the new strategy. Going forward our clusters will play an important role. By gathering our properties in clusters we can achieve a more efficient management process and present a more attractive customer offering. Today, 69 percent of our properties are located within one of our twelve clusters.
Learn more about our cluster strategy and Kungsleden's clusters here.
As of June 30, 2018 we owned 209 investment properties (excluding development properties) to a book value of SEK 31 553 million.
At the end of the third quarter of 2017, Kungsleden had 30 properties under development, of which 18 properties were classified as development properties. As of September 30, seven projects are in the implementation stage. During the interim period, Kungsleden invested SEK 544 million in development and investment properties.
The property portfolio's development
We concluded the first three of Kungsleden’s development projects in the first half-year: the office property Enen 10 in Södertälje, the Tegnér 15 shopping centre in Växjö, and part of Laven 6 in Umeå. These properties have now returned to our management organisation.
Kungsleden accessed the LEED-certified office property STUDIO (Tyfonen 1) in Malmö, which was acquired in the first quarter. Three properties were vacated: Brännaren 8 in Malmö, Rausgård 22 in Helsingborg and Lövkojan 10 in Katrineholm.