JLL advises on large mixed-use property acquisition in Stockholm

The former printworks building has been modernized and adapted to accommodate several use classes and has significant potential for further development. Vanda 3 is well located to relative to infrastructure networks and is in prime location to benefit from of the future growth of one of Stockholm’s key Data Centre hubs.

JLL has acted as valuation advisor to the purchaser of the property. The transaction price is confidential. The selling parties are Pictet and Brunswick, who acquired the asset in 2020.

“Vanda 3 is well positioned as an income-producing asset, boasting significant potential for both last-mile logistics and as a data centre. With excellent transport links, a strong and diverse mix of tenants and uses, and good sustainability credentials, Vanda 3 is a strong addition to our Nordics portfolio as part of our European core strategy. Our ambition is to further strengthen its dominant market position and we are happy that we have been able to retain Brunswick as our manager for the asset,” says Andreas Norberg, Managing Director and Head of Nordics Real Estate at Barings.

“We are pleased to have advised Barings on the successful acquisition of Vanda 3. The asset spans several use classes and presents a number of potential development options. This instruction was a great opportunity for JLL to demonstrate our cross-sector capability and market leading expertise in alternative / specialist sectors such as data centres in Sweden. It’s a pleasure to work with Barings on this transaction and look forward to the next opportunity. Thanks for entrusting the team at JLL with this appointment, “says Clive Drury MRICS, Director at JLL.