SLP acquires logistics asset from IKEA in Sweden

Swedish Logistic Property (SLP) has completed a sale and leaseback transaction with IKEA (INGKA), acquiring a logistics property in Jönköping for SEK 502 mln (€44.8 mln).

Swedish Logistic Property (SLP)

The property, located at Barnarps-Kråkebo 1:37, spans approximately 94,000 m2 of lettable area on a 176,000 m2 plot, with a prime location near the E4 highway.

As part of the deal, IKEA has signed a fully indexed 10-year lease agreement for 63,698 m2 (about 68% of the property), with an initial rental value of SEK 26.6 mln. The seller will cover the costs of facade renovations and a functional and fire-technical separation of the vacant portion, which will be carried out after SLP takes occupancy. These improvements aim to modernise the property and prepare it for multiple tenants.

The acquisition was conducted as a company transaction and will initially be financed by SLP's own funds.

Filip Persson, CEO of SLP, explained: “Through the deal, we strengthen our rental duration and gain a very stable tenant. We also see good opportunities to create additional value by refining the property in the form of extensions, energy projects and leasing out the vacant part.”