The building features modern office space and high-quality amenities including a gym, café and restaurant. United Spaces, Sweden’s leading co-working operator, occupies 88% of the total area. In 2023, United Spaces agreed to pre-let the office and ancillary areas for its flagship location in Stockholm on a 10-year lease, while the asset was being extensively renovated.

Originally constructed in 1926 and designed by architect Victor Fagerström, the 10-storey property has been thoughtfully modernised by Europa and its local partner, NCAP. The repositioning preserves the building’s historical features while delivering contemporary, flexible workspace with strong sustainability and digital infrastructure credentials. The property has achieved BREEAM ‘Excellent’ and WiredScore ‘Platinum’ certifications.

The building is strategically situated in the heart of Stockholm’s central business district, benefitting from excellent transport links including the adjacent Hötorget Metro Station and proximity to key commercial and cultural destinations.

Sabine Jones, Director at Europa, commented: “The sale marks the successful conclusion of our business plan for 32–36 Sveavägen, breathing new life into this historic building which is now firmly established as a bellwether for Stockholm’s office market. Through our active asset management expertise, we have refurbished this property to create a high-quality workspace, which meets the increasing demands of modern occupiers, secured a long-term lease with United Spaces and crystalised value for our client. Well-located, prime offices continue to perform well in major European cities and remain significantly attractive to both investors and occupiers.”

Shinichi Kagitomi, Chief Executive of Mitsubishi Estate London, added: “We are pleased to have delivered yet another flagship office building in a major European capital. The transformation of 32-36 Sveavägen into a high-quality asset reflects our strategy across our European platform, and we remain confident in the long-term fundamentals of the prime office markets in Europe’s key cities which are characterised by strong occupier demand and limited new supply.”

John Routledge, Partner at NCAP, said: “This is a sensitive CBD site and building, which meant that from day one, we had to be mindful of planning sensibilities. Together with our local project team and working closely with Stockholm Municipality, we have been able to create an exceptional working environment. This marks our second successful Stockholm office redevelopment working together with Europa and Mitsubishi Estate London, who have proved to be highly engaged and motivated capital partners.”