Panattoni, the European arm of Panattoni Development Company, has acquired SEK3.1bn (€300m) value of industrial land in Sweden.
Panattoni mentioned it has acquired seven websites in Stockholm and Skåne totalling 121.3ha from Swedish actual property agency Kilenkrysset.
The land has the zoning permits and potential to develop 661,450sqm of logistics property value round SEK10bn, Panattoni mentioned, including that it plans to speculatively develop 19 warehouses on the greenfield websites.
Robert Dobrzycki, the CEO and co-owner of Panattoni Europe and India, mentioned the agency is accelerating its enlargement throughout West European markets and this “record Swedish land transaction is probably the most spectacular entry into a new market we’ve achieved so far”.
Dobrzycki mentioned the deal was sealed simply six months after Panattoni opened its first Swedish workplace in Gothenburg.
Fredrik Jagersjö Rosell, a managing director at Panattoni in Sweden, mentioned the land acquired from Kilenkrysset sits in the center of Sweden’s Golden Triangle focus of warehousing and distribution hubs in the southern areas framed by the cities of Stockholm, Gothenburg and Malmö.
Rosell mentioned the Golden Triangle accounts for 80% of the nation’s enterprise and inhabitants, its most vital ports, largest airports and primary transport routes.
“With high demand for logistics space still outpacing record supply in the Swedish market last year and vacancy rates at very low levels, we’re confident that our forthcoming developments will tap into the strong appetite of occupiers for modern sustainable warehousing,” Rosell mentioned.
Jan Persson, Kilenkrysset’s CEO, mentioned: “With our sizeable land financial institution of roughly 30m sqm and our long-term commitments in detailed planning, in addition to the development and financing of our areas’ infrastructure, we wouldn’t have the capability to construct and develop on all our land on our personal.
“With Panattoni, we have found a partner who will fulfil both Kilenkrysset’s and our municipalities’ wishes: a rapid and large-scale development plan which, in combination with the municipalities’ positive attitude, is estimated to create thousands of jobs. Panattoni’s investment will be an important addition to the development of the Mälardalen region for many years to come.”
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