Lundbergs Fastigheter

Lundbergs Fastigheter

Lundbergs Fastigheter was founded in 1944 and has developed into one of Sweden's large private property owners with a property value of approximately SEK 28 billion. The company has operations in ten cities in Sweden, from Stockholm in the east to Gothenburg in the west. The business concept is to engage in the long-term ownership, management and development of residential and commercial properties. Lundbergs Fastigheter wants to contribute to people having the opportunity to live a better life. Therefore, the company develops attractive, sustainable urban environments where people want to live, work and enrich their leisure time. In recent years, the operations have developed through active management, acquisitions and newbuild projects.   

The real estate portfolio, which the company has largely built up itself, consists of about one million square meters of leas- able area across 130 properties. The space consists of about 50% residential units and the rest is commercial premises – mainly office and retail space, but also gyms, movie theaters, warehouses, industrial premises and community properties such as nursing homes and schools. 

Our world is facing major challenges – climate, environment and, not least, security are issues where the construction and real estate industries have great responsibility. A responsibility that provides opportunities to contribute to change and promote positive development. Lundbergs Fastigheter conducts extensive sustainability work and in 2020 adopted the goal of achieving climate-neutral operations throughout the value chain by 2030. 

Organization

The number of employees within Lundbergs Fastigheter amounted at the end of 2023 to 174 people. As an employer, the company aims to provide a safe work environment and a good working atmosphere where employees experience satisfaction and professional development. Employeeship is about mutual respect and that all employees play an active and responsible role for jointly creating a healthy, productive and customer-centric culture. Management, rental activities and property upkeep are handled locally in the respective market areas by a distinctly decentralized organization. All of the central resources that support the operational activities are located in the Norrköping headquarters. The members of the Executive Management Team consist of the President and CEO, Regional Manager Stockholm, who is also Executive Vice President and Head of Sustainability, Regional Manager East, who is also Executive Vice President and Head of Business Development, Region- al Manager West, who is also Head of Technical Operations and the Market and Communication Manager. 

Operations

Lundbergs Fastigheter owns and manages its properties itself and offers city locations in three business areas: residential, offices, and retail and meeting places. The company operates in ten cities, which are divided into three regions. 

The Stockholm Region comprises Stockholm/Solna, where the property portfolio consist of commercial premises, as well as management units in Södertälje and Eskilstuna, which largely consist of residential units. 

The West Region comprises Arvika, Gothenburg, Karlstad and Örebro. The property portfolio in Gothenburg essentially comprises offices, while the remainder of the region largely consists of residential units. 

The East Region comprises Jönköping, Linköping and Norrköping, where the portfolio consists of both residential units and offices, as well as the largest part of the company’s retail properties. 

Residential

Lundbergs Fastigheter develops and offers residential units that facilitate simple and secure living. The company owns almost 7,000 high-quality rental apartments in attractive locations with property management occurring close to the tenants. As interest rates have risen, rental property has become increasingly attractive, leading to greater demand in 2023. At the same time, a higher rate of relocation has been observed in the newer housing stock, where rent levels are generally higher.  

Good property maintenance requires that the properties are subject to a high standard of care and that the condition of the properties are monitored. To ensure that the properties are sustainable over the long term, Lundbergs Fastigheter has a long-term plan for renovation, refurbishment  and extension works, known as ROT projects.

Lundbergs Fastigheter places considerable focus on being receptive and maintaining a good dialogue with its tenants. Year after year, the operations achieve highly favorable results in the AktivBo customer survey, and Lundbergs Fastigheter is very well liked as a landlord. Our results from the 2023 AktivBo survey, which measures the level of satisfaction of our residential tenants and compares this with other property companies, showed that the company was once again a market leader. Lundbergs Fastigheter is included in the 4,000-10,999 apartments category and won AktivBo’s Customer Crystal for both Highest Service Index and Highest Profile. The company also placed in the top three in the Highest Product Index category.   

Offices

Lundbergs Fastigheter develops and offers offices that help companies and employees to achieve their goals. The company owns and manages approximately 226,000 sqm of office space. Longterm tenant relationships are created through high service levels and personal meetings, thus increasing awareness of the tenants’ needs and wishes. Through good knowledge of the tenants' operations, Lundbergs Fastigheter can offer solutions that are optimized for the customers’ requirements and that give the tenant security, comfort and a good work environment – in both the short and the long term. Lundbergs Fastigheter participates in the Fastighetsbarometern customer survey and the result for 2023, with a customer satisfaction index (CSI) of 81, was the company’s highest ever. 

This performance was rewarded with a fine third place in the large-cap category. The role and function of the office has been the subject of much discussion in recent years. The digitalization of society, combined with several other factors, is changing the needs, expectations and desires of customers, which is driving development towards offices that provide a greater number of more varied functions, according to the operations and profile of the company. The traditional office is very much alive but has been joined by increased demand for meeting places, flexibility and services linked to the office. This development challenges and develops both business models and offerings. As before, accessibility and an attractive location are key considerations when choosing an office. Demand for office premises remained good during the year, although greater caution is evident with longer letting processes and a more reserved approach. 

Retail and Meeting places 

Lundbergs Fastigheter develops and offers retail premises and meeting places that enrich people’s lives and ensure a vibrant city environment. Leasable area for retail premises and meeting places amounted to approximately 92,000 sqm. The company has retail premises in all of its market areas, with emphasis in Norrköping and Linköping. In these cities, over 120 concepts within retail, restaurants, cafes etc., are brought together under the company’s brands, Linden and Spiralen in Norrköping and lkpg Fashion District in Linköping. The physical retail trade, cafes and restaurants are once again facing major challenges due to the economic downturn and a largely uncertain world. The current high level of economic uncertainty is spilling over into the consumer market, resulting in emptier wallets and greater caution. Despite this, Lundbergs Fastigheter has leased premises to several new concepts in 2023, with a growing trend for pop-up stores. The clear recovery of visitors that began in 2022, following the pandemic, has continued in 2023 with more than 10 million visits to the malls in Norrköping and Linköping. 

Societal development is occurring at a rapid pace, not least in city centers, where the rate of progress and renewal is fast. In Norrköping, Lundbergs Fastigheter is carrying out a large-scale refurbishment project to develop and renew the city center’s retail district. This is an investment in a more attractive city center that is now adapting to modern times and changing needs and behaviors. Making room for the business community in the traditional retail districts creates new and more varied content. The combination of offices, shops, restaurants, cafes and cultural offerings makes the area more vibrant and inviting. The offices help to increase the daytime population of the city center, providing greater opportunities for retailers, while office tenants can offer their employees a better workplace experience with proximity to most things – networking in the morning, working out or running errands at lunchtime, meeting friends after work or simply taking a pleasant walk in the beautiful surroundings. The transformation will also see the launch of a new brand for the area: Innerstan – hjärtat av Norrköping [Innerstan – The heart of Norrköping]. This project provides better development opportunities for Lundbergs Fastigheter’s retail and office tenants and also helps to create a more attractive city center.