Investors' capital allocation into office and residential markets in ...

More documents

Recommendations

Info

Table 5.1 Development in Stockholm area Property type Project/ Location 20 Size, ´000 sqm Expected completion Office ÅF HQ, Solna 28 2008 Office Diligentia, Jericho 12 2008 Office Skanska,Flat Iron Building, CBD 14 2008 Office Vital/NCC, Kungsbron, CBD 16 2009 Office CSAM/NCC, Västerport 20 2009 Office Stockholm Waterfront, CBD 25 2010 Office Skanska,Skandia HQ, Stadshagen 30 2009-2010 Office Diligentia, Putten,CBD 16 2008 Office Skanska, Black Building, Sundbyberg 11 2009 Office Jernhusen, Kungsbrohuset, CBD 20 2010 Office Skanska, Bylingen, Södermalm 18 2009 (Newsec Nordic report 2008) In other two main cities (Gothenburg and Malmö) the vacancy rates are around 9–10 per cent. In the Gothenburg area the total supply of the office premises is around 4.5 million sq.m.. The CBD area of Gothenburg comprises Nordstaden, Inom Vallgraven and the area next to Avenyn and Lilla Bommen/Gullbergsvass. There are other office locations in Gothenburg such as Gårda (situated in the city centre and has a good location for communication) and the area in the Norra Älvstranden, in the island of Hisingen, with where the most modern office premises are located. Vasakronan, Walenstam, Diligentia, Bygg-Göta, Castellum, Alecta, Balder, Platzer and AP Fastigheter are the largest domestic property owners in the Gothenburg area. In early 2008, the vacancy rates started to go down as several new developments have been entering the market since last year. However, newly built offices with efficient floor plans are still of great demand in the area. Many older office premises were renovated to be able to compete with the modern buildings. During 2008 the vacancy rates in the Gothenburg area will continue to decrease and the reason for that is the strong demand for modern office premises and low construction activity in the area. Average rents in the area are getting closer to the market level. Market rental level for office premises in the Gothenburg CBD area is SEK 1,750–2,050/sq.m. while the prime rents are in the range SEK 2,050–2,300/sq.m. The increase in rental levels is expected in H1 2008 as the demand is high and the vacancy rates fall (Newsec Nordic Report 2008, see below Table 5.1.2 and Table 5.1.3).
Table 5.1.2 Development in Gothenburg area Size, Property type Project/ Location ´000 sqm Expected completion Office Gårda 30 2008-2009 Office Gårda 18 2008-2009 Office Gårda 15 2008-2009 Office Mölndal 24 2009 Office Frölunda 5 2009 Office Norra Älvstranden 18 2009 Office Gårda 16,5 2009-2010 Office Gårda 15 2009-2010 Office, Residential CBD 18 2008 (Newsec Nordic report 2008) Table 5.1.3 Development in Malmö area Property type Project/ Location Size, ´000 sqm 21 Expected completion Office University Island 7,5 2008 Office Western Harbor 7 2008 Office Western Harbor 3,8 2008 Office University Island 8,5 2008 Office Western Harbor 8 2009 Office University Island 5,5 2009 Office Western Harbor 8,5 2009 Office, sports arena, incl. 6000 sqm Hyllie Arena 45 2008 (Newsec Nordic report 2008) The Greater Malmö area comprises office stock of approximately 1.5 million sq.m.. The CBD area is going to expand and will include some parts of the Western Harbour (today it is a prime development area) and the area situated to the North from the Central station. Due to the close connection to Copenhagen Airport many companies establish their Nordic head offices in Malmö. For instance, Vestas Northern Europe plans to move its new head office from Falkenberg to Malmö in 2008 and Daimler Chrysler will relocate its Nordic head office to Brygghuset in the Western Harbour from Copenhagen. There has been a decrease in vacancy rate since last year due to the high demand for office premises. The situation is similar to Stockholm and Gothenburg. Some office buildings were converted to residential premises, both rental and condominiums, at the same time there were retail conversions. Some hotel conversions are in the pipeline. The Western Harbour has low vacancies compare to the Malmö CBD area. The vacancy rates fell due to the strong labour market. There was a rise in rents for modern office premises. In the CBD area market rents for office buildings are SEK 1,400–1,850/sq.m. and even
Page 1 and 2: KTH Arkitektur och samhällsbyggnad
Page 3 and 4: The treaty between Switzerland and
Page 5 and 6: Table of Contents CHAPTER 1 .......
Page 7 and 8: 1.2 Aims and objectives The aim of
Page 9 and 10: Chapter 2 Methodology In the paper
Page 11 and 12: expectations rise, making the price
Page 13 and 14: single assets or in a multi/mixed a
Page 15 and 16: In 2007 the transaction volume in t
Page 17 and 18: concluded that the continuation of
Page 19: Chapter 5 An overview on the proper
Page 23 and 24: (Global Property Guide, August 2008
Page 25 and 26: in the heart of Geneva CBD area is
Page 27 and 28: However, there has been an increase
Page 29 and 30: for the foreign investors in proper
Page 31 and 32: Chapter 8 Investments in office and
Page 33 and 34: The fall in the prices of Swiss Rea
Page 35 and 36: Total return from the investments i
Page 37 and 38: Credit Suisse The company provides
Page 39 and 40: Fixed income trading revenues were
Page 41 and 42: (Source: FOLKSAM Life Administratio
Page 43 and 44: Foncipars fund invests in residenti
Page 45 and 46: - Separate Accounts: France, Italy,
Page 47 and 48: Chapter 10 Conclusions Real estate
Page 49 and 50: References AMF Pension (2008) http:
Page 51 and 52: Swiss info http://www.swissinfo.org
Page 53 and 54: Real estate in relation to other in
Page 55: Blackstone, office property “Euro

Investors' capital allocation into office and residential markets in ...

You also want an ePaper? Increase the reach of your titles

Delete template?

Save as template?