Hansa in Malmö sold for €66M by Castellum

Hansa shopping mall in central Malmö has been sold by the Castellum AB’s wholly-owned subsidiary Fastighets AB Briggen.

Castellum is trimming one of the few larger retail-anchored assets in its portfolio while reaffirming the Öresund region as a growth market. Its wholly owned subsidiary Fastighets AB Briggen has sold Hansa, a mixed-use property in central Malmö, with the transfer of ownership set for October 17, 2014.

Hansa spans 40,500m² across two properties, of which retail accounts for 13,700m². The balance is office space (9,200m²), garage (9,400m²), residential (5,400m²) and education facilities (2,800m²). The composition makes Hansa a mixed-use asset with a retail core rather than a standalone shopping centre, which is part of what placed it outside Castellum’s longer-term hold strategy.

The sale price was SEK609m (€66m), reflecting a SEK27m (€2.9m) deduction for assessed deferred tax and transaction costs against the latest valuation. Castellum framed the disposal as portfolio refinement, the company’s term for divesting assets that no longer fit its core focus.

Castellum said the Öresund region and Malmö would remain an important market for its business development, signalling that the exit reflects asset selection rather than a retreat from southern Sweden.