Vacancy and tenant demand risk
Rental income depends on keeping commercial properties leased.
- Scope
- Office, warehouse and industrial properties
- Materiality
- high
Stenhus Fastigheter i Norden
Stenhus Fastigheter i Norden AB is a Swedish property company focused on owning, managing and developing commercial real estate in the Nordic region. Its portfolio is centered on income-producing properties and project-driven redevelopment, with operations organized through a listed parent company and property-owning subsidiaries.
0.49
0.43
| % | |
|---|---|
| Commercial property leasing | 70% Rental of office, warehouse and industrial premises to tenants under lease contracts. |
| Property management | 15% Ongoing management, administration and tenant service across the portfolio. |
| Property development and redevelopment | 10% Extensions, conversions and refurbishment projects that improve or reposition assets. |
| Ancillary and other property income | 5% Other property-related income such as service charges and contract-based additions. |
The company serves tenants that need commercial premises, especially businesses seeking office, logistics, warehouse or...
- Commercial tenantsprimary
Businesses leasing offices, warehouses and industrial units for day-to-day operations.
- Logistics and industrial occupiersprimary
Tenants using larger functional properties for storage, distribution or production.
- Office occupierssecondary
Companies renting office space in Stockholm and other Nordic locations.
- Project and redevelopment tenantssecondary
Occupiers that sign leases tied to refurbished or newly adapted premises.
Stenhus Fastigheter operates mainly in Sweden and the broader Nordic region, with Stockholm as its corporate base...
- •Headquartered in Stockholm, Sweden
- •Core operations are in the Nordic commercial property market
- •Exposure to local leasing demand and vacancy in Swedish cities
- •Property development depends on regional construction and permit conditions
The company’s strategy is centered on owning income-producing properties while selectively developing and improving...
01
Expand and optimize the property portfoliomedium-term
Rental income and asset value depend on the quality and occupancy of the portfolio.
02
Redevelop and adapt propertiesmedium-term
Refurbishment and extensions can raise rental potential and tenant fit.
03
Strengthen property management executionshort-term
Efficient management supports occupancy, tenant retention and operating stability.
The business is exposed to property-market risks such as vacancy, rent pressure, refinancing conditions and valuation...
Property valuation risk
Commercial property values move with yields, rents and market sentiment.
- Scope
- Nordic real estate portfolio
- Materiality
- high
Interest-rate and refinancing risk
Property companies are sensitive to financing costs and debt availability.
- Scope
- Borrowing tied to the property portfolio
- Materiality
- high
Project execution risk
Extensions and refurbishments can overrun budget or miss timing targets.
- Scope
- Development and redevelopment projects
- Materiality
- medium
Related-party dependency risk
The company uses services from entities connected to its main owner and management sphere.
- Scope
- Administration, due diligence and construction services
- Materiality
- medium
Investment property valuation
Property yield, rent and market assumptions drive valuation outcomes
Capitalization of redevelopment costs
Extensions, refurbishments and due diligence costs
Lease income recognition
Comparability across periods and occupancy changes
IFRS 16
IFRS 16 lease accounting
Office and operational lease commitments
: 11/08/2026