Europa Capital, the pan-European real estate investment manager, in partnership with NCAP, the Nordic asset manager, announces that it has pre-let c. 4,200 sq m of office space at Fleminggatan 20 (“F20”) in Stockholm, Sweden, to Foodora, a platform for restaurant food delivery and Q-commerce in the Nordics. The letting, representing 31% of the total space in the property, has been completed on behalf of Europa Capital’s value add fund, Europa Fund V.
Foodora has agreed to a five year lease for two and half floors in the c. 13,000 sq m building, which will serve as its local head office, increasing the total occupancy to 77%. Foodora is part of global operating company, Delivery Hero, which is headquartered in Berlin and listed on the DAX stock market. Foodora has over 7,500 partners across Sweden and is active in over 200 locations nationwide.
Europa Capital and NCAP have recently completed a comprehensive refurbishment of F20, expanding the existing office space by c. 1,100 sq m, and introducing new amenities such as bicycle storage, locker rooms and shower facilities. The building has attracted a number of occupiers including AB Svensk Exportkredit, Svevia AB, Groth, F&H Group and SATS.
The refurbishment also focused on improving the building’s sustainability credentials through the introduction of a new smart ventilation system and a reduction in its energy usage to 70kWh/sq m/ year (28% below the building code standard). Recognising the property’s wellness and health credentials, the building has been awarded a Fitwel 1 Star, as well a BREEAM ‘Very Good’ rating.
Located on the island of Kungsholmen in central Stockholm, F20 is a short walk over the canal from the new Stockholm City Station. The building is adjacent to a retail and amenity offering including a SATS gym, ICA, Systembolaget, and healthy lunch options, such as Holy Greens and Itamae Sushi.
James Keast, Director, Asset & Portfolio Management at Europa Capital, commented: “F20 offers occupiers a central HQ location and an attractive working environment with high quality turnkey fit outs. This letting with Foodora demonstrates that there is continued demand for office space, especially in buildings that are futureproofed and environmentally compliant such as F20, where we have placed a focus on quality and sustainability.”
John Routledge, Partner at NCAP, added: “I am very pleased that we were able to match the needs of Foodora, signing this significant lease agreement which will see the Company move its head office to F20. Being able to welcome another company head office to the building is extremely rewarding and yet again, a testament to the quality product that NCAP and the project team have created at Fleminggatan 20. We very much look forward to welcoming Foodora to the building.”
JLL advised Europa Capital on the letting.