The year in brief

2020 was an eventful year, and Castellum continued to grow despite the difficult circumstances in its business environment. Activities carried out during the year were a part of the long-term strategy for delivering on the growth target, and help to reinforce Castellum’s position as one of the Nordic region’s largest commercial property companies.

All events that occurred during the year have been announced in press releases. They can be found in the Press Room at www.castellum.com. At the Castellum website you can subscribe to digital press releases and financial reports in digital format.

  • JANUARY

    100 ON SOLAR

    Castellum began the year by presenting its “100 på sol” (100 on Solar) initiative with the goal of building one hundred solar cell installations on our buildings by 2025. This is one of the largest solar cell initiatives in the Nordic region and a key to becoming 100% climate neutral by 2030 at the latest.

    THE MOST EQUITABLE COMPANIES

    Castellum ranks as the most equitable of 600 listed companies according to a new equality survey by European Women on Boards in which the largest European companies were compared.

    UNITED SPACES GROWS

    The Castellum-owned co-working company United Spaces experienced robust growth in central Stockholm through establishing approximately 550 attractive office spaces in Castellum’s carefully renovated property at Torsgatan 22–30, a stone’s throw from the T-centralen subway station with occupancy in November 2020.

  • FEBRUARY

    ENVIRONMENT AND HEALTH PROFILE

    In central Västerås, Castellum began construction of a five-storey, 5,800- square metre office building in the attractive Kopparlunden district. Some 350 employees of the Swedish Social Insurance Agency will work in this new office with a clear environmental and health profile: certification under Miljöbyggnad level Gold, solar cells on the roof and an outdoor gym. The investment is estimated at approximately MSEK 198 and will generate annual rental income of around MSEK 14.

  • MARCH

    HEAD OFFICE FOR E.ON

    Despite uncertain times owing to the pandemic, Castellum began its largest project ever: the construction of a new Nordic head office for E.ON in the Nyhamnen district of Malmö, near the central station. The property contains approximately 31,000 square metres of lettable area, of which E.ON leases 24,000 square metres for approximately 1,500 employees. The investment corresponds to approximately SEK 1.3 billion including land acquisition. The lease will run for 12 years and corresponds to an annual rental value of MSEK 70.

    VEHICLES OF THE FUTURE

    Volvo Trucks signed a three-year contract with Castellum for testing and developing autonomous heavy vehicles and electric vehicles at Castellum Säve (the former Säve Airport), an operation entirely in line with the vision of combining the Nordic region’s most modern logistics hub with a test bed and innovation hub for the sustainable transports and mobility of the future.

  • APRIL

    LOGISTICS ACQUISITIONS

    In the expanding Nyhamnen district, Castellum acquired the Havet 5 logistics property, a site leasehold with approximately 17,000 square metres of land and a lettable area of approximately 6,000 square metres. The investment totalled MSEK 36. In future, Castellum plans to use the site for further development.

  • MAY

    COURT BUILDING IN MALMÖ

    In Malmö, construction began on what will be one of northern Europe’s largest workplaces for lawyers. The lease with the Swedish National Courts Administration is for 20 years, and the property will house Malmö District Court, the Administrative Court in Malmö and the Rent and Tenancy Tribunal in Malmö. Once completed, the building will consist of approximately 26,500 square metres of modern offices. The investment is estimated at approximately SEK 1.3 billion and will generate annual rental income of around MSEK 81.

  • JUNE

    GREEN POLICE BUILDING

    Castellum is constructing the world’s first climate-neutral police building, an office building in the Korsningen district of central Örebro. The building is being constructed entirely out of wood and in accordance with the new strict NollCO2 certification, with the goal of achieving net zero carbon emissions during its lifetime. By using wood, emissions will be approximately 40% lower than with traditional construction. The investment is expected to total approximately MSEK 227 and generate rental income of MSEK 15 on an annual basis.

    THE ROAD MAP TOWARD THE GOAL

    Castellum is one of the first property companies in the world to have adopted a clear road map for achieving zero carbon emissions by 2030 at the latest. A unanimous Board gave the go-ahead for two road maps, one for property management and one for project development. Castellum’s climate targets for 2030 were previously approved by the Science Based Target initiative, which guides companies around the world toward scientific objectives for slowing down global warming.

    ANOTHER COURT BUILDING

    Within a short period, Castellum has for the second time been commissioned to create modern and suitable premises for the Swedish National Courts Administration, this time in Jönköping. This new assignment in Jönköping covers approximately 9,200 square metres and will house the Göta Court of Appeal and the Administrative Court of Appeal in Jönköping with approximately 180 workspaces. The investment is estimated at approximately MSEK 325 and will generate annual rental income of around MSEK 23.

    UPPSALA CBD GROWING

    In central Uppsala, Castellum is creating innovative workplaces to provide for the work life of the future, especially regarding sustainability and healthy workplaces. The heart of the city is growing, as the Främre Boländerna district is being transformed into a down-town entrepreneurial hub with workplaces in the form of offices, hotels and laboratories. Approximately 11,000 people may work here in the future.

  • JULY

    FIRST IN THE NORDICS

    Castellum received official WELL certification of the Eminent office building in Malmö, which thus became the first in the Nordic region to do so. The foundation of WELL certification is ten concepts with starting points in people’s health and well-being. Castellum has several WELL projects under way such as Kungspassagen in Uppsala, GreenHaus in Helsingborg, E.ON in Malmö and Torsgatan in Stockholm.

  • SEPTEMBER

    THE VISION BECOMES REALITY

    Castellum Säve is a new flexible logistics hub. In September, Castellum announced that together with the consulting companies Cowi and Sweco, as well as the architectural firm Krook & Tjäder, it would turn vision into reality through investigations and proposals for the planning process. A leading logistics hub and a site for the development of sustainable mobility solutions, such as electric planes and vehicles, will be created here.

  • OCTOBER

    ONLY 3% LEFT

    Electricity production commenced at Hisingen Logistics Park with one of Europe’s largest roof-based solar cell installations. Castellum started up 14 large installations earlier in the year, and is drawing ever closer to its goal of 100% fossil fuel-free energy in all its properties. A full 97% of the energy used today is already fossil fuel-free.

  • NOVEMBER

    ACQUISITIONS IN HELSINKI

    Castellum acquired the Finnish property group Lindström Invest Oy. The portfolio encompasses five office properties with an aggregate lettable area of approximately 36,000 square metres. The investment totalled MEUR 150, of which MEUR 81 was paid via share issue in kind and the remainder comprises the takeover of liabilities. All of the properties are located in Kalasatama, a former harbour district that the City of Helsinki is now developing into a district for 25,000 new residents and 10,000 new workplaces. The buildings contain high-quality office space and conference centres.

    COMBINATION OF CASTELLUM AND ENTRA

    The Board of Directors of Castellum announced its intention to present a share exchange and cash offer to the shareholders of Entra for the purpose of combining the two companies. Through the combination of these two strong companies, which share Nordic cultural values and a history of profitable growth, Castellum intends to create a leading Nordic commercial property company.

  • DECEMBER

    ASSET PORTFOLIO SOLD

    Castellum signed agreements for the sale of an asset portfolio containing 214 properties, consisting primarily of warehouse and logistics properties, to Blackstone. The sale price totalled approximately SEK 19 billion, which exceeded the value as at 30 September 2020 by 20%. Less deferred tax and transaction costs, the net sale price was approximately SEK 18.1 billion.

    NEW PROJECTS IN HAGASTADEN

    The City of Stockholm approved the construction of the 20,000-square metre Infinity office property. The total investment volume is estimated at approximately SEK 1.7 billion, of which land acquisition is deemed to account for MSEK 650.