Atrium Ljungberg makes an acquisition in... - Atrium Ljungberg

Atrium Ljungberg makes an acquisition in Hagastaden

Atrium Ljungberg has signed an agreement to acquire the Blästern 15 property in Hagastaden, Stockholm. The building comprises 21,300 m[2] and was acquired at an underlying property value of SEK 2,345 million. This acquisition strengthens Atrium Ljungberg’s position as one of the largest property owners and city developers in the growing district of Hagastaden.

Blästern 15, which was designed by Ragnar Östberg, was built in the 1930s by the current owners AB Industricentralen, a privately-owned family company. It is a seven-storey building with a garage and currently has tenants primarily in offices, art galleries and shops. Blästern 15 is right next to Atrium Ljungberg’s property Blästern 11 and is fully let, except for the garage and storage rooms. The total rental value, fully let, is SEK 82 million and the remaining weighted contract duration is 2.8 years. Possession is expected on 1 June 2022.

Blästern 15 in Hagastaden. Photo: Cushman & Wakefield

In addition to this acquisition, Atrium Ljungberg owns and manages properties measuring more than 80,000 m2 in Hagastaden. Its portfolio already includes the properties Apotekarnes Mineralvattenfabrik, Glashuset and PV-palatset. All of them have been transformed into offices, while maintaining their industrial character. At the start of the year the first tenants also moved into the newly built Life City. Life City has a unique position above the E4 highway, which is one of the most visual locations in Scandinavia with 200,000 people passing by every day. It is also right next to some of the most important life science organisations in Sweden, including Karolinska Institutet, KTH Royal Institute of Technology, New Karolinska Solna and Stockholm University.

“Hagastaden is one of our main priority areas and we have been an active property owner here for a long time. This is Stockholm’s most expansive and exciting urban development areas and it feels incredible to be able to expand here. The area will be in a great position to see healthy rental growth within the upcoming years, with additional potential when the underground is up and running in 2028,” says Annica Ånäs, CEO of Atrium Ljungberg.

By 2030 Hagastaden is planned to grow by 50,000 workplaces and 6,000 new residential apartments. One of the largest park projects in the city is also expected to pass through the heart of this district, linking Hagastaden with Haga Park and Lake Brunnsviken. Atrium Ljungberg is one of the largest property owners in Hagastaden and has been operating in the area for more than 30 years.

Nacka, 24 May 2022
Atrium Ljungberg AB (publ)

This information is information that Atrium Ljungberg AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 19.00 CET on 24 May 2022.

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