Castellum is starting construction of Malmö's new Swedish National Courts Administration building in the expanding Nyhamnen district of central Malmö. The area will become one of northern Europe's largest workplaces for legal practitioners. Building permit has now been issued and construction start is planned for second quarter, 2020.
When the building is completed, it will comprise approx. 26,500 square meters of modern premises, of which approx. 24,000 sq.m. will be leased by the Swedish National Courts Administration and house the Malmö District Court and the Administrative Court, as well as the Rent and Tenancy Tribunal in Malmö. Castellum intends to finance the investment with existing operating income as well as unutilized credits.
"It feels great that the building permit has now been granted and we can begin construction. We are proud that we're getting to build this fantastic building with the state-run Swedish National Courts Administration as long-term tenants. It's extra fun to be simultaneously constructing E.ON's new headquarters right across the street. Altogether, the investments add up to approx. 2.6 billion kronor," says Henrik Saxborn, CEO at Castellum AB.
Construction time is calculated to be approx. 2.5 years, and preliminary occupancy is planned for close to the end of 2022. The leasing agreement with the Swedish National Courts will run for 20 years from the date of occupancy. Discussions are also taking place with potential tenants for the remaining 2,500 sq.m. Fully leased, the building is assessed to generate annual leasing income of approx. MSEK 81.
The building will be certified according to Sweden's highest sustainability level, Miljöbyggnad Gold, which includes a focus on energy efficiency and sound material choices.
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