Press releases 12 October 2018

Wistrand assists SBB on the acquisition of the new Skellefteå Cultural Center

Wistrand has assisted Samhällsbyggnadsbolaget i Norden AB (publ) (SBB) in connection with the signing of a definitive agreement for the acquisition of the new cultural center in Skellefteå, pursuant to the letter of intent announced by SBB on August 16, 2018.

SBB will own the entire property, including hotel operations, and lease it to Skellefteå municipality. The property is acquired for SEK 1.05 billion, which is to be paid when the building phase has been completed and the property is in use, which is expected to take place in spring 2021.

The rentable area of the property will amount to approximately 26,000 sqm. Rental income, which corresponds to operating net, amounts to SEK 44.5 million per year at the price level of 2018. The lease term is 50 years.

The new cultural center will become a unique landmark in Skellefteå, which, when completed, will be one of the world’s tallest timber buildings.

For further information:
Fredrik Råsberg, Managing Partner
D: +46 8 50 72 00 47
M: +46 709 50 72 47
E: fredrik.rasberg@wistrand.se