Europa, a pioneer in pan-European real estate investment, in partnership with NCAP, the Nordic asset manager, announces the sale of Brädstapeln 13, a newly refurbished 13,316 sq m, seven-storey office building in central Stockholm, Sweden, to a leading pensions company.
This follows the signing of the most recent office letting at the building in December 2023 with Ekonomistyrningsverket (ESV), the Swedish National Financial Management Authority, taking the overall occupancy to 95%. ESV will occupy 1,719 sq m of office space from early 2025.
Europa acquired the asset in July 2019, with vacant possession gained in 2020 and Europa’s refurbishment programme completed in the following year. This included the creation of an additional 1,409 sq m of lettable space by installing a new HVAC system which could be relocated to the basement from the seventh floor, freeing up that space for repurposing into lettable offices.
Other initiatives included the addition of a new reception lobby, a change of use to create a restaurant space and other structural enhancements, as well as improving the building’s sustainability performance to BREEAM “Very Good” certification and Fitwel Level 1 accreditation.
These enhancements allowed Europa to successfully implement its business plan by leasing the vacant office and restaurant space to achieve 95% occupancy, generating long-term income streams. Other key occupiers secured include Foodora, the Swedish food delivery and Q-commerce company, and AB Svensk Exportkredit, the state-owned export credit agency.
Located on the island of Kungsholmen in central Stockholm, Brädstapeln 13 benefits from excellent connectivity and is a short walk over the canal from Stockholm City Station.
Source: Press release on 2 Feb