Logistea access warehouse and logistics property with adjacent building rights in Falkenberg corresponding to a property value of 78 MSEK

Logistea AB (publ) (formerly company name Odd Molly International AB (publ)) today accessed two properties in Smedjeholmen’s industrial area in Falkenberg (Sweden) that the company acquired on June 30, 2021. One property is a fully leased modern warehouse and logistics property with a leasable area of approximately 10,000 square meters with an average remaining contract length of three years. The adjacent property is unbuilt with building rights corresponding to approximately 12,000 square meters. The properties have an underlying property value of approximately 78 MSEK and estimated annual rental income of 7.1 MSEK and estimated net operating income of 5.3 MSEK. The purchase price amounted to 56.2 MSEK.

The properties have a distinctive location in Falkenberg (Sweden) between the two strong logistics hubs, Gothenburg and the Öresund region. The properties are close to both the city centre and the port area and within ten minutes the E6 highway is reached between Malmö, Gothenburg and on to Oslo.

The existing warehouse and logistics property has a good distribution between warehouse and office space and e-commerce company Engelssons Postorder rents majority of the area. The unbuilt adjacent property with building rights of approximately 12,000 square meters consists of hardened and ready-to-build area and is considered to have good development opportunities to create another warehouse and logistics property in the area. Rental of the property has already begun.

Logistea’s property portfolio currently amounts to approximately 260,000 square meters of lettable area (excluding ongoing and planned extensions and new constructions), all located in attractive logistics hubs in southern and central Sweden.