Gothenburg Port Authority has signed a letter of intent with property company Castellum to develop the Halvorsäng area in Sweden into a logistics hub.
A 50/50 joint venture has been formed and the parties aim to start construction towards the end of this year. The land area is approximately 270,000 sq m, including 155,000 sq m of building space. Construction is expected to take four years.
“We have arrived at an ideal solution for all concerned, but with the land remaining at the disposal of the Gothenburg Port Authority. The plan is to share costs and risks with a partner that has the requisite knowledge and expertise in the development of logistics facilities that will benefit the port as a whole,” said Elvir Dzanic, Gothenburg Port Authority chief executive.
Castellum’s initial investment will involve acquiring a 50 percent interest in the land, at an estimated cost of around SEK400-450 million (USD47-53 million), and with a further investment of SEK550 million (USD64.9 million) in development.
“Although we are still in the early stages we are firmly committed to the successful development of Halvorsäng. With direct links to the port and major highways, Halvorsäng will become an amazing focal point for the logistics of the future,” said Mariette Hilmersson, Castellum Region West chief executive.
Located directly north of the port’s terminals, immediately beside the Hisingsleden bypass, Halvorsäng is well situated to handle incoming freight for onward transport throughout Sweden and Scandinavia by road or rail.
