Solna Gate

Acquisition
June 2006

Divestment
October 2015

Year of construction
2000

Lettable area
35,000 sqm

Fund
Mengus 2005

Upon acquisition, the property was 15 percent vacant but with substantial upcoming vacancies. The technical status of the two inter-connected buildings comprising the property was good at acquisition but with single-tenant characteristics. Furthermore, both interior and exterior impressions of the property were dated and of 1990s look-and-feel.

The main focus of Mengus’ value enhancing efforts was to modernise the property while transforming it into a true multi-tenant complex with an all-inclusive service offering in order to replace the two leaving anchor tenants Länsförsäkringar Stockholm and Axfood, in total vacating some 22,000 sqm. The refurbishment of the building indeed established Solna Gate as a landmark property in the area, attracting several new and well-renowned international companies as tenants, including Bristol-Myers Squibb, BP, Abbott, Abbvie, Toyota, Santander Bank, GlaxoSmithKline and Gilead.

Solna Gate was divested fully-let to Klövern in October, 2015.

.
SG_loggo

Related Projects