Kaldalón Secures Major Property Purchase in Garðabær
In a significant move within Iceland’s real estate market, Kaldalón has successfully accepted an offer for a substantial 2,245 square meter office and industrial building located at Austurhraun 7 in Garðabær. The seller, as noted in the official real estate register, is Marel Iceland ehf. This property is strategically positioned adjacent to JBT Marel’s European headquarters at Austurhraun 9.
While the transaction is still pending the customary conditions, Kaldalón shared this update in their announcement detailing their operational performance for the first nine months of the year. The deal is anticipated to finalize before the year concludes. “The property is very well located in one of the most dynamic business districts in the capital area,” they noted.
Although the exact purchase price remains undisclosed, it was previously listed on the market for 1.5 billion ISK. Recent listings reveal that this building, constructed in 1998, underwent renovations in 2022.
The building features a 500 square meter processing room with a ceiling height of up to 8 meters. © Submitted image (SUBMITTED)
Kaldalón Reports Impressive Growth
Kaldalón’s financial results for the first three quarters of the year show remarkable growth, with revenues reaching 4.1 billion ISK—an increase of 28.7% compared to the same period last year. Their operating profit before valuation changes also saw a positive trajectory, amounting to 3.2 billion ISK, up by 27.5%.
However, total profits before taxes did experience a decline year-on-year, dropping from nearly 3 billion ISK to around 1.6 billion ISK. This decrease is largely attributed to smaller valuation changes compared to the previous year. By the end of September, Kaldalón’s asset portfolio stood at an impressive 83 billion ISK, with 81 billion ISK classified as investment assets.
Additionally, the company expanded its real estate holdings in the third quarter, acquiring properties at Krókhálsi 16, Kletthálsi 1A, and Skúlagata 15.
