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Castellum Begins Construction On E.ON's Nordic Headquarters

Castellum said it plans to start construction of a new office building, with E.ON as the major tenant, with an investment of about 1.3 billion Swedish kronor, including land acquisitions.

Castellum is building a new Nordic head office for E.ON, to serve as the workplace of about 1,500 employees in the Nyhamnen district, located near Malmö's Central Station. Skanska is the procured entrepreneur for the project.

The planned new building in Nyhamnen comprises about 27,000 sq.m. leasable area, of which E.ON rents about 24,000 sq.m. Construction is scheduled to begin in the second quarter of 2020, and preliminary occupancy is planned for the first quarter of 2023.

The leasing agreement between E.ON and Castellum amounts to 12 years and corresponds to an annual rental value of 70 million kronor, which will be reported with net rental for 2020. The remaining vacant area of 3,000 sq.m. corresponds to an economic vacancy rate of 9% and for these areas there are ongoing negotiations.

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