Savills has been appointed by Union Investment Real Estate GmbH to manage a 22,000 sq m office property in Stockholm, Sweden. The seven-storey asset, Päronet 8, is located in Solna north of the city and Savills will begin managing the building in January 2014.

Päronet 8 was refurbished in 2009 and is fully let to a single tenant, Swedish tax authority Skatteverket. It includes one underground floor and 125 parking spaces.

Anders Nyström, acting head of Savills Sweden, says: “We are delighted to begin managing the Päronet 8 property in January. Our property management team has extensive experience with 500,000 sq m currently under management across Sweden.”

Savills currently manages 34 properties for Union Investment Real Estate across Europe including in the Netherlands, Spain and France. Hamburg-based Union Investment Real Estate is a leading international investment company specialising in open-ended real estate funds for private and institutional investors. The firm has some €23 billion assets under management in fourteen real estate funds.