On December 15, 2020, Odd Molly International AB (publ) (“Odd Molly”) acquired a large land and development area located in Vaggeryd along E4. There is great interest from various actors who wish to establish themselves in this area. Odd Molly’s subsidiary Vaggeryd Logistik Park has today signed the company’s first two letters of intent to build warehouse and logistics buildings of approximately 6,000 square meters on the site, with a planned move-in in November 2021. The estimated rental value amounts to just over SEK 4.1 million, with an average rental period of approximately 9 years.
Vaggeryd Logistik Park is a very exciting development project totaling 240,000 square meters of land with excellent signage along the E4, 20 min south of Jönköping and with railway tracks into the properties. We are pleased that we today can present the first two signed letters of intent regarding rental conditions and the construction of approximately 6,000 square meters modern warehouses- and logistics buildings and for the great interest in future establishment that different actors exhibit, says Odd Molly’s Chairman Patrik Tillman.
Declarations of intent with tenants for the construction of new warehouses and logistics buildings
There is great interest in establishing in the area, and Vaggeryd Logistik Park has today signed the first two letters of intent to build warehouses and logistics buildings of approximately 6,000 square meters with planning move-in in November 2021. Calculated rental value based on the letters of intent amounts to just over SEK 4,1 million, with an average rental period of just under 9 years. Final rental contracts and construction start are conditional on building permits and other customary permits.
Vaggeryd Logistics Park
On December 15, Odd Molly acquired a property portfolio in Vaggeryd. The acquisition included two investment properties and a larger land development area located along the E4 in Vaggeryd. In total, the property portfolio comprises a land area of 380,000 square meters, of which existing leased storage and logistics building space amounts to 26,700 square meters and currently leased outdoor land of 89,000 square meters.
In a jointly owned project, Odd Molly together with Vaggeryd Utveckling AB will develop logistics properties in the area under the name Vaggeryd Logistik Park. The ground area is mostly flat with hard surfaces and has previously been used for wood chips and wood piles. In addition to good logistics and signage along the E4, there is also a railway track onto the property. Furthermore, Vaggeryd Energi plans to erect a new district heating plant on directly adjacent property, which is expected to bring benefits to future tenants in the area.
It is estimated that in this area it will gradually be possible to build between 120,000 – 160,000 square meters of modern logistics buildings with an estimated potential market value in excess of SEK 1,500 million. Future project results, after deduction of production and land costs, will be divided equally between Odd Molly and Vaggeryd Utveckling AB.
For further information please contact:
Patrik Tillman, Chairman of the Board Odd Molly International AB (publ) +46 733 50 61020
Johanna Palm, Deputy Managing Director Odd Molly International AB (publ) +46 8 522 285 97
Tobias Lövstedt, Head of Finance Odd Molly Real Estate Business +46 735 026 877
This information is information that Odd Molly International AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted, through the agency of the above contact persons, for publication on 22 December 2020 at 08:30 CET.