The Swedish Post Office has taken 7,300 sq m (78,580 sq ft) of office space at Solna Business Park, Stockholm, at a rent of SEK1,100 per sq m, along with 1,625 sq m (17,500 sq ft) of warehouse space at a rent of SEK 450 per sq m.
This equates to a total rent of SEK 9,703,250 pa on a new five-year lease with an option to extend. The space will be refurbished by letting agent CLS Holdings prior to the rent commencement in September 2000.
In addition, the Post Office has agreed to take a further 2,300 sq m (24,758 sq ft) of new office space to be constructed at roof level at a rent of SEK 1,750 per sq m. This new accommodation forms part of a planning application to be made shortly, and it is proposed that all the existing buildings will be extended, creating in total up to 17,000 sq m (182,992 sq ft) of new office accommodation in addition to the current net area of 112,900 sq m (1.215m sq ft).
Executive chairman Sten Mortstedt said: “This is an excellent letting to a major tenant. The rent level confirms our projections at the time of acquisition and in particular the rent level achieved for the new space will significantly increase the value of our investment.”
EGi 29/11/99
