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Diös in Umeå

Goan Fonzen

Göran Fonzén, Business Area Manager Umeå

The Umeå market

What makes Umeå an attractive city for Diös?

“Umeå’s brisk growth has continued and there is a strong will to invest, on the part of Diös as well as other players in the region. The local authority’s ambition to increase the number of residents in the centre, a living city centre and that residents should be able to reach everything within a five kilometre radius is completely in line with our view on urban development and our focus on increased density.”

What makes Umeå an attractive city for businesses and retailers?

“Umeå is a young city with stable population growth, and this is particularly evident among local retailers, restaurants and entertainment venues. We have also noted that elderly people are moving into the central parts of town and contributing to the evening economy. There is tremendous demand for qualified labour, which is attracting both people and businesses to the city and creating a positive feedback loop with a strong emphasis on recruitment.”

How are you collaborating with other players in the locality?

“That’s why we engage in a continuous dialogue with the local authority, university, other big property owners and other players. The open climate in Umeå contributes to common solutions for promoting urban development.”

What were Diös’ focus areas in Umeå in 2019?

“An exciting new let is that to machine hire company Lambertsson at ÖstTeg. We are demolishing an old office building in order to build a new, state-of-the-art facility for them. We have signed a contract with the Police Authority under which we will produce one of the country’s most modern police stations, with a completely unique architecture. The property will be more welcoming and accessible for the public as well as the staff. We have also made extensive tenant improvements for the district court, modernising their premises. Our hotel project was ongoing during the year, although so far it has mainly involved demolishing the existing structures. Apart from this, we have focused on achieving a closer relationship with our tenants and our market through a proactive approach.”

What will you be doing in 2020 and going forward?

“In 2020, our focus will be on getting started on developing the Vale block by Vasaplan, which will involve building a new 11-storey building with an attractive mix of restaurants, offices and apartments. We are continuing our constant efforts to develop our properties and find new business that will help to take our city forward.”

Magne Umeå

Ongoing Projects

Type of project New construction
Property Magne 4
Type of premises Hotel
Tenant Nordic Choice Hotels
Investment, SEKm 410
Leasable area. Sq.m 14,500
Start of construction Q1 2019
Estimated completion Q3 2022
Environmental category BREEAM SE, Very good
Cisternen Umeå
Type of project New construction
Property Cisternen 3 & 4
Type of premises Industry
Tenant Peab and Lambertsson
Investment, SEKm 65
Leasable area. Sq.m 3,197
Start of construction Q2 2019
Estimated completion Q2 2021
Environmental category -
Polishuset Umeå
Type of project New construction
Property Stigbygeln 2
Type of premises Office
Tenant Swedish Police Authority
Investment, SEKm 350
Leasable area. Sq.m 9,646
Start of construction Q2 2020
Estimated completion Q3 2022
Environmental category BREEAM SE, Very good

Market Rents and Yield

Source: Pangea Research - The figures refer to the average for properties in prime locations.

Rent, SEK/sq.m Yield, %
Office 2,000 5.00
Retail 4,000 5.90
Residential 1,825 3.50