Kungsleden has started a major renovation project in the property Enen 10 in the central parts of Södertälje, thereby creating top modern and effective office space in a desired location. The property will house offices, a fitness club and a café.

Kungsleden AB (publ) will develop and renovate the old City Hall in Södertälje, Enen 10, into a 6,000 sqm top modern office property. The project, located next to the Central Station in Södertälje, has gathered great interest and new lease agreements have already been signed with:

  • ÅF AB, an engineering and consultancy company, leasing 1,000 sqm during five years
  • The fitness club Flex Sverige AB, leasing 1,400 sqm during ten years
  • Tidermans Café, leasing 255 sqm during ten years

This means that 50 percent of the leasable area is leased before construction has started, with negotiations being held for the additional space. The investment amounts to approximately SEK 125 m and is expected to obtain a yield of close to 9 percent.

Enen 10 will be redesigned with a more efficient floor plan, completely new installations and an improved environmental profile, such as new windows and green lease agreements. The project will raise the property’s quality and profitability.

“Enen 10 is a well-known property with a first class location in the central parts of Södertälje, however it needs renovation. ÅF is anticipated to move in this autumn and we expect the project to be completed by year end 2017. We see a great potential in Södertälje with Enen being an important profile property in the area”, says Frida Stannow Lind, Head of Property Development at Kungsleden.

For more information, please contact:

Frida Stannow Lind, Head of Property Development at Kungsleden | 46 8 503 052 30 | frida.stannow.lind@kungsleden.se

Biljana Pehrsson, Chief Executive Officer at Kungsleden | 46 8 503 052 04 | biljana.pehrsson@kungsleden.se

www.kungsleden.se


Detta pressmeddelande finns tillgängligt på svenska på www.kungsleden.se/pressmeddelanden

The information was provided for public release on 28 January 2016 at 07:00 a.m.

Kungsleden’s business concept is to own, manage and improve commercial properties in growth regions in Sweden and to deliver attractive total returns. Kungsleden’s strategies to create value are based on meeting the premises requirements of customers by managing, improving and developing properties and planning consents and by optimising the company’s property portfolio. Kungsleden has been quoted on NASDAQ Stockholm since 1999.