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Stena Property

BUILD AND MANAGE WITH A FOCUS ON COMFORT


Stena’s property operations are managed by Stena Fastigheter in Sweden and
by Stena Realty internationally. Its portfolio consists of 2.4 million m², mainly in
Sweden. With tenancy as its form of tenure, Stena Property develops long-term,
attractive residential environments and workplaces. Its goal is to be the first
choice of tenants.
 
Stena Fastigheter prioritised new construction during the year.
In central Malmö, close to Stortorget, Stena is investing
MSEK 100 in offices and flats. The project was launched in
2012, with move-in scheduled in early 2014. In addition,
Stena has broken ground on rental units in Lomma Hamn,
an investment of MSEK 70.
 
In the Stockholm region, Stena Fastigheter has invested
MSEK 500 in Ängby Park, where 320 flats are now ready. In
Bredäng, construction will begin next year on 180 flats, half
of which will be for students. Construction also begins next
year on 380 flats in Kvarngärdet, in Uppsala.
 
Sweden’s “Million Programme” will require extensive renovations.
Stena Fastigheter is allocating about MSEK 500 per
year to this type of investment. In Uppsala, renovation is
underway at Kvarngärdet, where Stena is investing MSEK 600
during the period 2011–2015. In Handen, in Haninge municipality,
MSEK 200 has been invested in bathroom renovations.
 
In Gothenburg, a restart is being made at Pennygången, an
area with experimental construction dating back prior to the
Million Programme, after the properties proved to be in worse
condition than expected. In this area, Stena Fastigheter has
applied to launch a project to evaluate opportunities to build
more flats. At the same time, the dialogue with residents is
being improved, to better capture their views.
 
It has been difficult to acquire properties in Sweden due to
the high price levels. One of the few acquisitions Stena Fastigheter
made in 2013 was for Stena’s owners, who acquired
“Gröna skrapan”, a commercial property in Gothenburg built
by Skanska and which has received LEED Platinum status. The
building is managed by Stena Fastigheter.
 

International

The real estate market in Houston, Texas has been strong in
the last two years. In the summer of 2013, Stena Realty signed
a lease with Jacobs Engineering, one of the world’s largest
technical service providers, on over 8,000 m² in a newly constructed
building in Houston. In late 2013, the chemical and
engineering group Sasol also signed a lease, for 17,500 m².
Because of the new lease, Stena is constructing a second
building in Houston. The new investments in Houston amount
to around MUSD 100, and both are long-term leases.
 
In 2013, Stena Realty acquired a property in the Midtown
section of London for MGBP 15.6. The company now owns
four central properties in London and is continuing to evaluate
the city, although the economic rebound has raised demand
as well as property prices.
 
Stena Realty is also a significant property owner in Sophia
Antipolis, in southern France, with 50,000 m² of commercial
space. The area has a low vacancy rate, and the company is
adding 2,000 m² of office space in World Trade Center. A permit
has been granted, and construction will begin in 2014.
 
The Dutch commercial property market is suffering from
high vacancy rates, which Stena is addressing through its local
organisation and collaborations with brokers. Modern showrooms
and entrances that are more welcoming than neighboring
property leads to competitive advantage for Stena Realty.
 

Property sales

In Gothenburg, Stena has sold a property on Gullbergsvass to
Platzer. Also, several smaller properties were sold in Stockholm
and Lomma as well as one in Amsterdam. In total, property
sales generated a capital gain of slightly over MSEK 50.
 

Social engagement

Relationship Management (Relationsförvaltning®) is Stena
Property’s concept for developing sustainable residential
environments and workplaces where people thrive and want
to stay. This requires close cooperation with tenants and local
businesses to create safe, stable, thriving residential environments.
Stena Property is now creating Relationship Management
2.0, including by appointing a relationship management
strategist.
 
In focus areas such as Fisksätra, Lövgärdet and Hermodsdal,
Stena Property is working to provide children a healthy place to
grow up, including by offering homework assistance, but also
by helping to provide recreational opportunities near schools.
Stena Property has decided to provide summer jobs for
300 young people in 2014. The jobs will primarily be in areas
where it is especially hard for them to find work. Stena
requires written CVs, conducts real job interviews and offers
written recommendations after the summer. The aim is to
prepare these young people for the job market at the same
time that they get a feel for the areas where they live.
 

Environment

Consumption of energy, electricity and water in Stena’s properties
impacts the environment. The goal is to reduce consumption
by 20% by 2020 compared to 2010. To date, the
results have been better than planned. Consumption is monitored
month by month to measure the results of the adjustments
and investments that have been made and in that way
reduce usage. Stena Property compares properties of similar
standard and age and shares good examples within the organisation.
Tenants are encouraged to conserve through individual
measurements of hot water consumption, for example.
 
Regardless of the situation, Stena Property will always take
the measure that is most effective from a cost and environmental
standpoint. This includes fine-tuning heating equipment
and installing water-saving devices. Another example
is motion-activated LED lighting. In addition, Stena Property
consumes only green electricity in its properties.