Stena Property


Stena’s property operations are managed by Stena Fastigheter in Sweden and by Stena Realty internationally. Its total owned and managed portfolio consists of 2.4 million m2, mainly in Sweden. With tenancy as its form of tenure, Stena Fastigheter develops long-term, attractive residential environments and workplaces. The company's goal is to be the first choice of tenants.

In 2014, Stena Fastigheter, signed an agreement to buy the SCA building in Mölndal center, which is under construction. The property will contain 25,000 m2 of offices and an innovation center for SCA.

Stena Fastigheter is one of Sweden's leading property owners with a total portfolio of 23,600 apartments and 3,100 commercial premises. The goal in terms of new construction is to build 500 apartments a year, something which has been difficult to achieve in recent years. Stena Fastigheter has the land and financial resources to initiate the construction of a large number of apartments. Municipalities could contribute to a higher degree through faster planning processes and affordable land allocation.

In 2014, Stena Fastigheter completed 80 apartments in Ängby Park, Stockholm, and in central Malmö. In addition, construction of 322 apartments was initiated in Stockholm and Lund. Stena Fastigheter's ambition is to work with an innovation-oriented approach to create attractive new rental units for all people.

Redevelopment of the Kvarngärdet area in Uppsala is continuing and when completed investments will have amounted to MSEK 640. The last phase of the renovation will be finished in 2015, and at the same time new construction of properties will begin in the same area of land which Stena Fastigheter already owns. In order to obtain an attractive range of properties to suit current demand, many smaller apartments are being built.

Renovation of Pennygången has started in Gothenburg. In dialogue with the tenants, Stena Fastigheter has decided that the renovation will be at basic level and that tenants can choose optional extras. In this way, tenants can affect their own standard and thereby having an influence over their rent. Together, a viable solution has been reached both for those who live in the area and for the Pennygången properties. When the first building is completed, an evaluation of the ­renovation will be made. The renovation will then continue in consultation with the tenants. The City of Gothenburg has initiated a programme of work for the whole of Högsbohöjd which allows for new construction in the area.

Relationship Management is an important part of Stena Fastigheter's business and is aimed at creating safe, stable and comfortable living environments.

In 2014, Stena Fastigheter also signed an agreement to purchase a commercial property under construction in Mölndal near Gothenburg. The property, which comprises office space of 25,000 m2, is leased to SCA on a long-term contract. The building is being constructed by NCC and is scheduled for completion in late 2016/early 2017 when access also will take place.

Stena Fastigheter has signed an agreement for the sale of the Lövgärdet property portfolio in Gothenburg. The area consists of 1,277 apartments and about 30% of the area consists of commercial areas, which include a health center, school, retirement home and shops.

In Stockholm, a property was sold to the tenants during the year. The property, which has been reorganised as a housing association, is the last building in a previous larger property.

Low interest rates combined with a stable market and high demand means that many investors are turning to the property sector. For Stena Fastigheter, which owns and manages properties on a long-term basis, this makes it difficult to find new acquisitions at reasonable prices. Instead, the company is investing in a large-scale new construction and upgrading of the existing portfolio.

The project portfolio of SEK 11 billion covers investment capacity during the next five to eight years.

During the year, Stena Fastigheter strengthened its resources in IT, communication, Relationship Management and project development. Stena Fastigheter in Gothenburg has appointed Agneta Kores as its new MD.


In Houston, Texas, Stena Realty has completed one of the two properties the company is building, in which a large part has been leased to the consultancy company Jacobs Engineering. The other property, which will be ready in the spring of 2015, is fully leased to the chemical company Sasol. In total, the investment is more than MUSD 100 and the two leases have been signed on long-term contracts.

In Sophia Antipolis, France, the construction of premises adjacent to the World Trade Center has started. They are scheduled for completion in spring 2015 and half of them have already been leased to GE Healthcare. Stena Realty already owns 50,000 m2 in the same area.

The London market has recovered in full force. Stena Realty has sold the property on Leman Street, which was acquired in 2012. The office property was sold for MGBP 41, at a substantial profit. In early 2015, another office building was sold for MGBP 19, also at a substantial profit. After the sale, Stena Realty owns two properties in London.

The market in the Netherlands is challenging and is still dominated by high vacancy rates. By renovating properties to a level that makes them more attractive than many competing alternatives, Stena Realty's portfolio is easier to rent out. In addition, the Dutch organisation has been strengthened with a leasing resource and a number of larger premises have been converted into smaller units or into apartments.

Community involvement beyond the norm

Long-term sustainability is a well-integrated part of the business. For many years, Stena Fastigheter has worked on Relationship Management (Relationsförvaltning®) to create safe, stable and comfortable living environments. A large focus is placed on school, work and stimulating leisure activities for children and young ­people. Stena Fastigheter strives to ensure that pupils living in Stena's residential areas receive the best education possible. Stena participates in projects to provide homework preparation and meaningful employment. From 2014, Stena Fastigheter offers summer jobs to 300 young people in the company's areas.

Stena Fastigheter uses relationships with contractors to create involvement with residents of the areas. For example, during a contract, a painting company might agree to take on a person from the area as an apprentice or trainee.

Stena Fastigheter's main environmental impact comes from consumption of electricity, heating and hot water. The company's technical specialists monitor developments and take advantage of new opportunities, such as geothermal and solar energy solutions.

"The young people rose to the challenge"

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CEO Comments

It has been difficult to reach production of 500 apartments, which means that we are pushing to speed up municipalities' planning work and building permit issues. Next year, it will be important for us to continue developing effective building processes. The goal is to offer newly built apartments for ordinary people.

We also continue to look for attractive acquisitions while also renovating the existing portfolio. For example, we are about to carry out a major conversion of our hotel Sergel Plaza in Stockholm, which involves an investment of several hundred million kronor.

Christel Armstrong Darvik

CEO, Stena Property



When Stena Fastigheter organised Bredäng Day in the company's residential area south of Stockholm in late May 2014, this was just one example of how Relationship Management (Relationsförvaltning®) can manifest itself in practice. During the year, nine pupils worked on different projects as part of efforts to increase engagement and satisfaction in the area.

"One of my goals is getting to know the young people", says Dennis Söderman.

If I can do that, I get closer to their parents and together we get a better feel for the neighbourhood." Dennis works as a manager in Stockholm, where he develops a property area in Bredäng.

Relationship Management is Stena Fastigheter’s concept for sustainable living environments where people thrive and stay longer. The focus is on children and young people, and extra initiatives are now being made within schools. In Bredäng, this is important as the area has been characterised by factors such as exclusion and high unemployment.

"We approached the school to see what we could do together. The result was that nine pupils worked on three projects during the year – a company presentation, preparation for the renewal of a playground and implementation of Bredäng Day for the families in our neighbourhood", says Dennis.

Bredäng Day attracted many visitors

"We had bouncy castles, a quiz walk and different types of food. And because one of the girls was interested in horses, she got to organise pony rides. The young people really rose to the challenge. You could see how proud they were of their Stena t-shirts when they took care of the visitors", said Dennis.

"The measure of appreciation was evident in all the comments we received!

Our tenants were super excited. Children in the area are still talking about the day, and asking us what this year's Bredäng Day will be like."

For Stena Fastigheter, this is one way of create involvement within the residential area, but it is also an opportunity to show what it means to work with service and quality.

"If someone wants to try out working in the property sector, we are a good employer. This is why we offer summer jobs for young people who live in our areas."

And last year, one of the summer workers stood out a little bit more.

"Marco stood out in a positive way. This summer we will be renovating the ­playground and three young people from the school project will get a summer job to do it. Marco does not know yet, but I want him to take on a summer job as their supervisor", concludes Dennis.

Relationship management

(In Swedish)

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Dennis Söderman

Manager Stockholm

Next in Annual Review 2014