Peab has entered into conditional contracts with Annehem Fastigheter to divest a newly built office building in Gothenburg and to acquire an office building in Helsinki.
Peab is selling the office building Gamlestads smedja in Gothenburg which has about 13,000 m2 lettable area and annual rental income of some SEK 41 million. The underlying property value is SEK 675 million. The transaction will have a positive effect of around SEK 60 million on earnings which will be recognized in the fourth quarter 2026.
At the same time Peab will acquire the office building The Front in Helsinki which houses, among other things, Peab's Finnish headquarters. The property has a lettable area of approximately 17,000 m2, an occupancy rate of approximately 70 percent and an annual rental income of EUR 4.7 million. The underlying property value is EUR 63 million, corresponding to SEK 715 million. Peab has development rights adjacent to the property in Helsinki and will work to reduce vacancies in the acquired property and further develop the area.
"In line with our strategy of not owning fully developed properties long term, we're now divesting Gamlestads smedja in Gothenburg at the same time we acquire a property in Helsinki with development potential," says Göran Linder, Business Area Manager Project Development.
Both transactions are conditional on the signing of an additional lease in Gothenburg. Both transactions are expected to close in the fourth quarter 2026 and will be implemented in company form.
For further information, please contact:
Peab's Press Office: pressjour@peab.se or +46 10 456 86 00
Juha Hartomaa, Head of Investor Relations Peab, +46 72 533 31 45