Akademiska Hus sells properties in central Stockholm
Monday, 15 July 2019
Akademiska Hus has signed a contract with Balder regarding the sale of the properties Domherren 1 (commonly known as A house) and Tre Vapen 7 in the Östermalm borough in Stockholm.
Domherren 1 occupies 10,400 m2 and was built between 1968 and 1970. For many years the building was home to the School of Architecture at the Royal Institute of Technology (KTH), but since the school moved in 2015 the building, now known as A house, has undergone extensive renovations and is currently a successful meeting place for companies and businesspeople primarily in the fields of food, fashion and the media. Balder is taking over all current leases with unchanged terms and conditions.
Tre Vapen 7, which was built in 2004, occupies 11,700 m2 on five floors in two buildings. The majority of the building is currently leased by Stockholm University of the Arts, though tenants also include the German-Swedish Chamber of Commerce and IVL Swedish Environmental Research Institute.
“We are pleased with the contract. Balder is a long-term, stable operator and we are convinced that along with current operations, they do a great job of managing and further developing the properties,” says Magnus Huss, Market Area Director at Akademiska Hus.
“We are extremely pleased to become the owner of two terrific properties in central Stockholm, especially with innovative tenants in creative sectors,” says Erik Selin, CEO of Balder.
Balder will assume possession of the two properties on 1 October 2019. The consultancy firm Nordanö has advised Akademiska Hus in the sale.