Revelop acquires 14,000 square meter mixed-use asset in fast-growing Gothenburg submarket
Stockholm, 15 September: Revelop acquires Sörred 8:5, a mixed-use asset with a total lettable area of 14,000 square meters. The asset is located in the fast growing Gothenburg industrial submarket Torslanda. The acquisition further strengthens Revelop’s position in Gothenburg.
Through the acquisition Revelop continues its strategy to invest in submarkets that is undergoing structural growth. The Torslanda submarket is a strategic development area and a significant hub for industry and research in the Gothenburg region. Torslanda benefits from other major development areas such as Arendal, Backaplan, Sörred Logistics Park and Hisingen Logistics Park.
“Despite the current market environment we continue to stay active, focusing on our prioritised submarkets. Torslanda area is undergoing significant growth on the back of major infrastructure projects and committed investments to accelerate the electrification of our society”, says Executive Partner Thomas Sipos.
Sörred 8:5 comprises a total lettable area of 14,256 square meters and current use is industry, offices and social infrastructure. Revelop will reposition the asset through the upgrading of existing building structures and through the development of unutilised building rights. The asset will also undergo a sustainability journey from brown to green.
The acquisition of Sörred 8:5 further strengthens Revelop’s position in Gothenburg, where the portfolio now includes 23 assets comprising 150,000 square meters in total.
”Through extensive initiatives we will create an attractive and sustainable core property for warehouse and light industrial use, with the added benefit of our own co-working concept C/O Workspace. We will extend the life of existing buildings, use land more efficiently and at the same time create a more attractive, versatile urban environment with reduced climate impact”, Thomas Sipos says.
Revelop will execute a comprehensive ESG plan including a BREEAM In-Use certification, investments in building automation systems as well as solar energy. Projected reduction of CO2 emissions is targeted to 50 tonnes per year.
For more information, please contact:
Thomas Sipos, Group CEO & Executive Partner at Revelop
tel: +46 70-980 66 06
Erik Visteus, Head of Investor Relations, Revelop
tel: +46 (0)768 944 576
Revelop is not an ordinary real estate investor. We invest in places where we can create a positive, long lasting impact by repositioning and developing real estate with a distinct focus on sustainability. The company is ranked by the data and analytics company Preqin as one of the world’s best performing real estate fund managers over time in terms of consistent returns. The existing property portfolio comprises 570,000 m2 and the value amounts to SEK 8.8 billion.