Odd Molly International AB (publ) (Odd Molly) continues to grow in real estate for warehousing and logistics. The company has today closed the transaction with the e-commerce company Cellbes existing logistics property of 12,700 square meters of lettable area in Viared Borås, Sweden, with an underlying agreed property value of 63.0 MSEK. After further extension, the property is expected to have a lettable area of approximately 21,400 square meters and include a new modern logistics facility with a fully automated warehouse to Cellbes. Estimated annual rent after extension amounts to 12.5 MSEK.
Odd Molly continues to grow in real estate for warehousing and logistics. The company has today closed the transaction with the e-commerce company Cellbes existing logistics property of 12,700 square meters of lettable area in Viared Borås, Sweden. After further extension of approximately 8,700 square meters, the property is expected to have a lettable area of approximately 21,400 square meters and include a new modern logistics facility to Cellbes with a fully automated warehouse adjacent to the existing building. After completion of the extension, the annual rent is estimated at approximately 12.5 MSEK, of which Cellbes rents approximately 13,000 square meters of space during a so-called "triple-net"-agreement with a maturity of 12 years with planned move-in in the first half of 2022.
Odd Molly is very happy and proud to take over and start the development of a new modern logistics facility that will become the future central warehouse to Cellbes, which is one of northern Europe's leading e-commerce company. Both the property and the tenant Cellbes fit well into Odd Molly's property portfolio, while the deal strengthens our presence in Viared Borås, Sweden, a region where we intend to continue to grow, says Odd Molly's COO Tobias Lövstedt.
The transaction is a big step forward for Cellbes as it gives us the opportunity to focus 100 percent on developing Cellbe's e-commerce and our total offering. The collaboration with Odd Molly also gives us the opportunity to continue our expansion and meet customers' expectations for lead time and delivery in a professional way for a long time, says Charlotte Nordén, CEO Cellbes AB.
As of June 30, 2021, Odd Molly's property portfolio consisted of 21 investment properties with a total lettable area of 141,974 square meters with a value of 1,279.3 MSEK.
