Sweden´s largest property firm Vasakronan, advised by Savills, has sold the fully let, mixed-use asset Älgen 24 in central Stockholm for approximately €50 million (SEK 435 million). The buyer is HEFAB Fastighets AB.

The 9,000 sq m building includes a 3,500 sq m elderly care home, 3,000 sq m housing and 2,500 sq m office space.  It is located in Östermalm, the most prestigious residential area in the centre of the Swedish capital.

Johan Bernstrom, head of investment at Savills Sweden, says: “We are currently seeing high demand for this type of asset, which is in an excellent location and fully let.  The Swedish investment market has had a strong first half of 2013 with total investment turnover reaching SEK 46bn (€5,3bn) in this period. Stockholm continues to dominate the market accounting for approximately 45% of total investment.”

Wistrand, Grant Thornton and WSP Real Estate represented the buyer.