Savills Investment Management (“Savills IM”), the €26.2 billion (AUM) international real estate investment manager has acquired a logistics facility in Gothenburg for €35.2m from Sörred Logistikpark – the joint venture from Catena and Platzer. The acquisition was made on behalf of Savills IM’s European Urban Logistics & Industrial Fund (“EULIF”).
The newly constructed Grade A facility comprises almost 15,000 sq.m of space, which is fully leased to a Swedish multinational car manufacturer on a 10 year lease. The property is less than 2km from the Port of Gothenburg – the largest port of Scandinavia, where 30% of Swedish foreign trade passes through – and provides direct access to key motorways and routes linking to Stockholm as well as Gothenburg.
The asset is targeting a BREEAM New Construction ‘Excellent’ certification, and includes PV panels, EV charging points and district heating, in addition to green lease terms with the tenant.
The acquisition is the first in Sweden for EULIF, which currently manages assets across Germany, France and Spain, in addition to Sweden. The fund is a Core+ open ended structure and was launched in January 2023 with a strategic focus on urban logistics and light industrial properties in supply-constrained European logistics markets.
European Logistics is a key investment pillar for Savills IM, which now manages more than €6.5 billion of logistics assets across 11 countries for its various funds and mandates.