Savills has advised NCC on the sale of the K11 office project in Järva Krog, Sweden, to Castellum for just over SEK 1 billion (c.€100 million).
K11 encompasses just under 13,000 sq m of lettable floorspace, four-fifths of which has been let. Tenants include PUMA, 3M, Hewlett Packard Enterprise, Viatris and the Swedish Transport Administration. The building also contains two restaurants and a café.
K11 has been certified under the international BREEAM system as ‘Excellent’.
“We are now selling K11, the first block of a total of three that we are developing in the Järva Krog neighbourhood. In addition to the office buildings, the city district will also include 500 housing units, retail and a preschool when completely developed,” says Joachim Holmberg, Business Area Manager, NCC Property Development.
Anders Nordvall, Deputy CEO, Savills Sweden, says: “Sweden has had a very strong H1 2021 for commercial real estate and the office sector continues to attract a range of international and domestic investors. K11 is a best in class development with excellent ESG credentials and exactly the kind of product that buyers are after at the moment.”