Castellum and Ericsson have signed two new lease agreements for a total of approximately 13,000 sq.m. in the Emerald House and Jubileumshuset projects in Hagastaden, Stockholm. Ericsson has also announced that it will not exercise its option to reduce the space in its previous lease agreement for the Infinity project.
The new lease agreements have been signed for five years, with planned occupancy in 2031 and a right to withdraw until 31 December 2027. Castellum’s total investment volume amounts to approximately SEK 1,200 million, and the total annual rental value* amounts to SEK 80 million. Jubileumshuset is being developed in partnership with HSB, where Castellum is developing the office space and HSB the residential units.
Castellum and Ericsson have previously signed an agreement for 24,000 sq.m. in the Infinity project, with planned occupancy in 2028. The annual rental value for Infinity* amounts to approximately SEK 140 million.
Ericsson will move its operations in Kista, including its head office, to Hagastaden.
“Hagastaden is an excellent location for Ericsson, in the heart of Stockholm’s network for technology collaboration and innovation. In our new premises, we will create modern and attractive office space designed for collaboration and innovation. The premises will also help us attract future talent who will continue to drive our technology leadership,” says Per Narvinger, Executive Vice President and Head of Business Area Networks at Ericsson.
“Welcome! Hagastaden will be an excellent location for Ericsson,” says Pål Ahlsén, CEO of Castellum AB.
Projects in brief
Project name: Emerald House
Property: Kvarter 11, Hagastaden
Investment volume: SEK 800 million
Area: 9,800 sq.m. (Leased to Ericsson: 9,400 sq.m.)
Annual rental value*: SEK 57 million
Occupancy rate: 96%
Construction start: 2029
Estimated occupancy: 2031
Sustainability certification: Miljöbyggnad Guld
Project name: Jubileumshuset
Property: Kvarter 12, Hagastaden
Investment volume: SEK 400 million
Area: 4,200 sq.m. (Leased to Ericsson: 3,500 sq.m.)
Annual rental value*: SEK 23 million
Occupancy rate: 84%
Construction start: 2028
Estimated occupancy: 2031
Sustainability certification: Miljöbyggnad Silver
Project name: Infinity
Property: Sorbonne 1
Investment volume: SEK 1,800 million, of which SEK 672 million remains
Area: 24,000 sq.m.
Annual rental value*: SEK 140 million
Occupancy rate: 98%
Construction start: 2025
Estimated occupancy: 2028
Sustainability certification: Miljöbyggnad Guld, WELL Core and NollCO2
* including supplements, 2026 years rental level.
For further information, please contact:
Pål Ahlsén, CEO, Castellum AB, +46 76 807 97 02
Christoffer Strömbäck, CFO, Castellum AB, +46 70 249 72 55
Anna-Karin Nyman, Director of Communications, Castellum AB, +46 70 206 75 62
