Logistea has entered into a 20-year lease agreement with NKT HV Cables AB (“NKT”) regarding the construction of a production and testing facility within the property Bulten 1 in Alingsås. The investment amounts to 160 MSEK and the building is expected to be completed during the first half of 2025. The lease agreement is a green triple-net lease. The project is financed by Sparbanken Alingsås. Logistea has further prolonged the existing lease agreement with NKT of approximately 10,700 sqm in the existing building until 2045-04-30. The accumulated annual base rent (excluding rent supplements) for the two lease agreements amounts to approximately 26.75 MSEK.
With the new lease agreements and the construction of the new building, Logisteas property portfolio is continuing to grow and the remaining average term for Logisteas leases prolongs from approximately 7.5 years until 8.7 years. The total rent value of the new lease and the existing lease, including the extension of the existing lease, amounts to approximately 560 MSEK. The previously contracted rent value amounted to approximately 90 MSEK.
“The lease agreements with NKT are an important step in Logisteas continuing growth where we together with NKT creates top modern premises in order to meet NKT’s future needs. The investment is evidence on successful project development of our building rights portfolio and the new lease agreements also strengthens the company’s key figures. With this investment we are deepening our collaboration with a safe and stable partner like Sparbanken Alingsås, says Anders Nordvall”, deputy CEO Logistea
“With the investment in our new testing facility for high voltage products we continue to meet the strong growth NKT has within the global high voltage market. Through the investment in Alingsås, NKT continues to contribute to the green transition in the energy sector by supplying complete cable systems for solar, wind and sustainable infrastructure. We are also very happy to develop our local operations in Alingsås. The investment together with Logistea also entails a clear capacity increase in our delivery rate as well as an additional focus on our R&D activities. At the same time, the project will entail a need to grow our workforce with 40-50 new positions in Alingsås”, says John Sjöström, Head of Operation, NKT HV Cables AB in Alingsås.
About NKT HV Cables AB
NKT designs, manufactures and installs power cable solutions for low, medium and high voltage that enable sustainable energy transmission. The company has over 4.500 employees with offices and production facilities in 16 countries. NKT is 100 percent owned by NKT A/S, which is listed on Nasdaq in Copenhagen. The company's production facilities are powered by 100% green energy with environmental classification AA MSCI in ESG rating.