Stena AB

Stena Property

Stena’s property operations are managed by Stena Fastigheter in Sweden and by Stena Realty internationally. The total owned and managed portfolio comprises 2.3 million sqm, the majority of which is in Sweden. With tenancy as its form of tenure, Stena Property develops long-term, attractive residential environments and workplaces. The company’s goal is to be the first choice of tenants.

Building and management for the future

Many apartments in the portfolio

Stena Property has initiated about 30 building plans since 2010, and these are starting to result in local development plans. At the end of 2015, the company had six new construction projects encompassing almost 1,000 apartments. The target of building 500 apartments per year was not achieved in 2015, but will be exceeded in the years 2016–2018.

A new objective is to upgrade the portfolio to plus standard. When an apartment becomes free, it is renovated to plus standard.

In the Gothenburg region, five properties were acquired and one was sold during the year, including the Pripps site in Högsbo industrial area which the company and Ikano acquired together.

Low interest rates, a warm winter and capital gains made 2015 a good year from a financial perspective.

Relationship management

Stena Property received two awards for work with young people during the year. The company won the Future Index 2015 and was also named Property owner of the year.

Stena Property continues to support projects such as homework classes and Mathivation. The company offered summer jobs for 300 young people who gain job experience and appraisal they can use when applying for their next job.

The company has also accepted about 50 trainees and interns, and has introduced social clauses in contracts. Matching of unemployed young people has been a challenge, but the process is being developed.

"We want our contractors to involve young people from the local area to give them job experience."

Christel Armstrong Darvik

International outlook

Two properties in Houston, USA, have been completed and are almost fully leased. In France, the property in Sophia Antipolis has been completed and is fully leased. In 2015, Stena Realty sold a property in Kiel and a property in London.

The market in the Netherlands remains challenging and, despite its hard work, the company has high vacancy rates in the portfolio.

RENTABLE SPACE BY ­CATEGORY

RENTABLE SPACE BY SUB-MARKET

Christel Armstrong Darvik

CEO, Stena Property

In an already difficult housing shortage situation, immigration accentuates the need for major new construction of apartments. Authorities and municipalities have understood the importance of speeding up planning processes, but the time from concept to moving in is still too long.

In 2016, we welcome one of our major tenants when SCA moves into its new premises in Mölndal. The refurbishment of our hotel in Brunkebergstorg in Stockholm continues. The goal is for Sergel Plaza to become Sweden’s most attractive venue with commerce, hotels and restaurants in the same building.

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