Fabege is the second largest property owner in the inner city, with 42 properties comprising 502,000 sqm. The portfolio is dominated by modern offices and retail outlets in prime locations. Currently, offices account for 76 per cent of the portfolio, hich represents a market share of 6 per cent of the office market.
The rental value of Fabege’s inner ity properties is SEK 1,167m, which epresents 57 per cent of the Group’s total rental value. At year-end 2010, the occupancy rate in the area was about 90 per cent. For many sectors, a central location is a high priority and price sensitivity is low, which is reflected in high rents. Tenants in the city centre mainly comprise finance companies, law firms, management consultants and other consultancies.
The main concentration of properties in the portfolio is in the area around Kungsgatan and Drottninggatan. Fabege’s holdings around Drottninggatan comprise twelve properties. In the Kungsgatan–Norrlandsgatan–Lästmakargatan area, close to Stureplan, Fabege owns a well contained cluster of eight properties.
In these property blocks, Fabege is conducting an extensive project aimed at reinvigorating a central backstreet, thus creating an attractive location in the very heart of the city.
Another priority area for Fabege is Norrtull/Norra Stationsområdet, where the company now owns five properties, including the Wenner-Gren Center landmark property. In the Kungsholmen district of Stockholm, Fabege owns buildings such as the DN Tower and the adjacent low-rise buildings.
Fabege’s rents were stable during the year. In 2011, we expect a stronger rental market with lower vacancies and higher rents.
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Rental value by category, per 31 December 2010 |
Lettable area by category, per 31 December 2010 |
 |
 |
Key figures, per 31 December 2010
|
2010 |
| No. of properties |
42 |
| Market value, SEKm |
16,215 |
| Lettable area, ‘000 sqm |
501 |
| Financial occupancy rate, % |
90 |
| Remaining contract term, years |
3.3 |
| Rental value, SEKm |
1,167 |
Largest tenants, per 31 December 2010
|
sqm |
| Nasdaq OMX |
34,000 |
| Bonnier Dagstidningar AB |
28,000 |
| Lantbrukarnas Ekonomi AB |
12,000 |
| Carnegie Investment AB |
10,000 |
| Praktikertjänst AB |
9,000 |