鈥檚 parent company Mitsubishi Estate has bought a 7,000sqm office building in Stockholm鈥檚 central business district from AFA Insurance.
Mitsubishi Estate鈥檚 London arm 鈥� which has since 2014 been expanding its operation into continental Europe 鈥� has bought the seven-storey building in the Swedish capital for an undisclosed sum.
Mitsubishi Estate London, advised by Europa Capital, expects to undertake a full refurbishment of the asset with a view to re-letting the building.
Yuichiro Shioda, managing director and CEO of Mitsubishi Estate London, said: 鈥淭rends in the Stockholm office market have been positive in recent years, boosted by a consistently robust underlying economic environment, a strong labour market, high demand and scarce supply.
鈥淲hilst the Covid-19 pandemic has impacted on all occupational markets, the supply/demand imbalance within the Stockholm market indicates that it should recover more quickly than other European capitals.鈥�
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