Ever since the property was bought in 2017, Green Property has worked hard to find the right tenant for the future and now it finally looks like the classic premises at Karlaplan 4 in Östermalm are getting new life. The solution now is a flexible cultural scene for many different cultural activities throughout the week. The number of employees has been increased by 150 to 750 people and the premises will now also be operated as a bar and restaurant.
– A number of cultural profiles are behind it and they intend to run cultural activities in this venue and it will be a fairly broad activity from what we have been told. They should welcome Stockholmers to all possible forms of culture and entertainment entertainment such as theatre, concerts, exhibitions and parties but also shows for children during the day and general meetings and many other activities, says Gustaf Grundström, CEO of Green Property to Fastighetsvärlden.
Green Property has developed the historic cultural venue together with the new tenants Maxim Karlaplan. It is a new company constellation consisting of, among others, business profile Shori Zand, actor Lia Boysen, musician and composer Markus Jägerstedt, restaurateurs Andrew Jones and Tim Alton from Bistro Barbro, sustainability profile Mikael Salo and cultural producer Ellen Tejle, who is the new CEO of Maxim.
New Property was responsible for the rental advice between the parties.
In cooperation with the tenant, extensive renovations have been carried out at an approximate cost of approximately SEK 40 million, which was according to budget.
– For us, the main task was to solve the ventilation and since we are already part owners of the innovative ventilation manufacturer Skawen, we have had close cooperation with them to achieve a world-class system. But we also support the tenants with technical procurement expertise, says Gustaf Grundström
The acoustics have been another important issue as, among other things, a previous potential tenant had not been able to move in because it was feared that it would sound too much.
The improved acoustics were achieved by building a room within the room, a lounge within the lounge. In this way, the sound can be isolated from the rest of the residential property and the rest of the neighborhood. Technically, it is also a frame separation, with a frame section where the roof is detached from the residential property.
Green Property has secured a fifteen-year lease with the operator, which means a long-term perspective. And also with a sustainable rental model, so that it pays off financially.
– The previous tenant had signed a shorter demolition contract with the then property owner at a very low rent, which unfortunately meant that it was not possible to adapt the premises to today’s requirements and standards. The new lease is more of a market-adjusted rent, which has made it possible for us as property owners to make the investments and adaptations that a modern cultural scene requires. During the process, we have had many stakeholders, both in culture but also a very broad spectrum such as gyms, groceries, parish activities and offices, but it is culture that has of course been the goal all along and we are both proud and happy to be able to deliver it together with our tenant, says Gustaf Grundström.
He believes that the whole area will now become more attractive as, in addition to the Maxim theater, a new cinema, Fågel Blå, has also been established in the area and that the restaurateur duo Douglas Fagerman and Ruben Blomdahl have opened the pub Aristo on the other side of the street. Also at Karlaplan 2, a new restaurant will open shortly.
The property has a long and varied history. During World War II, the area was used by the FRA to decode encrypted radio traffic, and it played a crucial role in deciphering German intelligence codes. After the war, the building was converted into Karlaplansstudion, where Sveriges Radio recorded music and programs, including a memorable recording with the Beatles. In 1967, the venue was transformed into the Maxim, which served as both a cinema and a theatre. Over the years, it has been a platform for revues, plays and shows, with different owners and orientations.
