Press releases.


2008-01-08

BOCKASJÖ INVESTS SEK 220 MILLION IN NEW BUILDING IN VIARED

Bockasjö has today acquired approximately 80,000 m² of land from the City of Borås to build a logistics facility totalling 46,000 m². The land is located at the ‘old airport’ and is one of the last large land areas available in Viared.

Construction is expected to start in May/June this year and will be completed by the summer of 2009. In the first phase, a warehouse and logistics facility of about 36,000 m² including offices is being built, and in phase two a facility of approximately 10 000 m² is being built.
The facility will be rented by an international logistics company. This will generate a number of jobs.

The project is estimated to cost approximately SEK 220 million when fully built.

“Borås is clearly on the logistics map. A good geographical location close to Sweden's largest port, the Port of Gothenburg, Landvetter Airport and major roads together with a competitive price level are advantages that speak in favour of Borås when deciding on the location of logistics operations. We have considered constructing this building in other locations that are strategically sound, but the choice finally fell on Borås when we found a solution to the land issue with the City of Borås, something that we appreciate and value,” says Joakim Hedin, CEO of Bockasjö AB.

Bockasjö AB, which is equally owned by Joakim Hedin and Paul Frankenius, sold four logistics terminals to Kungsleden  in October 2007 in a transaction totalling SEK 560 million.

The Bockasjö Group operates in property management, property development, investment in forests and asset management.

In addition to some wholly and partly owned properties, the company participates in a number of property development projects in Dubai, including the construction of several logistics facilities for a total of 160,000 m² of rentable space, a 10,000 m² hotel project and a 25,000 m² shop and office complex. The latter is being completed in February this year and has been sold to an American property fund.

Bockasjö Skogar invests in forest properties in Latvia and has so far acquired 700 hectares of forest land with the ambition of building up a stock of 2,000 hectares within the next two years.

The Group's managed capital amounts to approximately SEK 500 million.

Questions will be answered by:
Joakim Hedin +46 (0)705 - 21 53 00
City of Borås Hans Nyhlen +46 (0)33 - 35 70 48