Stockholm

Space Measurement Standard

LOA*

Space Unit of Measure

Square Meters

Financial Data Below Reported In

SEK

Notes:

*According to Swedish building norms

Landlord Concessions

Fit-Out Concession

The Landlord typically provides a contribution or concession to fit-out as a part of the lease transaction.

Fit-Out Cost Notes:

Depends on the negotiations (lease terms, base rent, etc)

Figures: The landlord often fits-out the premises after the clients' needs. We use to say "standard condition". If more, the tenant pays by his/herself or it is added to the base rent.

Rent-Free Period

In addition to the fit-out contribution, the Landlord typically provides a contribution or concession in the form of a rent-free period.

Standard Range of Rent-Free Months

1mo.-3mo.

Typical number of rent-free months.

Rent-Free Period Notes:

Rent-free period is quite common but not always connected to the fit-out. Negotiation question.

Lease Provisions

Lease Term

3yrs.-7yrs.

Typical lease term in years.

Lease Term Notes:

Normally 5 years when discussing office

Operating Expenses & Service Charges Included

Quoted market rent typically does not include operating expenses (service charges). There are additional charges that apply to leasing space.

Additional Charges

kr45/sm-kr70/sm

Estimated range for all additional charges per Square Meters.

Additional Charges:

Utilities
Service Charges
Stamp Duty
Electric
Rates
HST
Cleaning
Hydro
Registration Fees
Taxes
Insurance
VAT
Other

Service Charge Notes:

Additional charges: Base rent + Service Charge
Heating, cooling, property tax, VAT, cleaning, insurance, electricity are the most common but there are exceptions.

Lease Timeline: The following apply to both office and industrial leases.

Lease Execution Requirements:

Typical upfront requirements
None for strong credit tenants
Upfront rental payment
Security deposit
Corporate guarantee
Not Applicable

Requirements Notes:

For strong companies, it is often not required. Depends on the lease costs.

Negotiated Subletting/Assignment

Negotiated Subletting - Landlord Consent

The Landlord's consent IS required.

Negotiated Subletting/Assignment Notes:

Some of the property owners close this opportunity in the special provisions. However, it is a negotiation question and sometimes even a legal right.

Statutory Subletting/Assignment Notes:

Depends

Blend & Extend Strategies

Typically, a tenant can take advantage of "blend & extend" ("forward renewal", "early renewal", etc.) strategies when the appropriate market conditions exist.

Statutory Early Termination

This is NOT a statutory termination right.

Negotiated Early Termination

It is NOT typical for tenants to be able to negotiate an early termination right in the lease agreement.

Early Termination Notes:

Early termination can be possible, but it is a negotiation question. This is often connected to a penalty.
It can be a statutory termination right, but it depends on the contract.

Typical cost: 6 months - 1 year rent (depends)

Obligations Upon Lease Expiration

Basic broom clean condition and removal of special installations.
Dilapidations.
Complete restoration to shell.
Other

Tenant Obligation Notes:

Inspections with the landlord

Workplace

Regional Office Space

15sm-20sm

Typical Square Meters per employee (includes office square footage for employees and contractors).

Regional HQ Office Space

15sm-20sm

Typical Square Meters per employee (includes office square footage for employees and contractors).

Desk Sharing

Desk-sharing is not a common practice in the market.

Urbanization of the workforce is: Equal to several other considerations driving location decisions

Landlord Concessions

Fit-Out Concession

The Landlord typically provides a contribution or concession to fit-out as a part of the lease transaction.

Fit-Out Cost Notes:

The landlord often fits-out the premises after the clients' needs. We use to say "standard condition". If more, the tenant pays by his/herself or it is added to the base rent. It depends on the fit-out as well - value to the property or just for the tenant, etc.

Rent-Free Period

In addition to the fit-out contribution, the Landlord typically provides a contribution or concession in the form of a rent-free period.

Rent-Free Notes:

Rent-free period is quite common but not always connected to the fit-out. Negotiation question.

Lease Provisions

Lease Term

1yrs.-5yrs.

Typical lease term in years.

Operating Expenses & Service Charges Included

Quoted market rent typically does not include operating expenses (service charges). There are additional charges that apply to leasing space.

Additional Charges:

Utilities
Service Charges
Stamp Duty
Electric
Rates
HST
Cleaning
Hydro
Registration Fees
Taxes
Insurance
VAT
Other

Service Charge Notes:

Additional charges: heating, cooling, property tax, VAT, cleaning, insurance, electricity are the most common but there are exceptions

Lease Timeline: The following apply to both office and industrial leases.

Lease Execution Requirements:

Typical upfront requirements
None for strong credit tenants
Upfront rental payment
Security deposit
Corporate guarantee
Not Applicable

Requirements Notes:

For strong companies, it is often not required. Depends on the lease costs.

Negotiated Subletting/Assignment

Negotiated Subletting - Landlord Consent

The Landlord's consent IS required.

Negotiated Subletting/Assignment Notes:

Some of the property owners close this opportunity in the special provisions. However, it is a negotiation question and sometimes even a legal right.

Statutory Subletting/Assignment Notes:

Depends

Blend & Extend Strategies

Typically, a tenant can take advantage of "blend & extend" ("forward renewal", "early renewal", etc.) strategies when the appropriate market conditions exist.

Statutory Early Termination

This is NOT a statutory termination right.

Negotiated Early Termination

It is NOT typical for tenants to be able to negotiate an early termination right in the lease agreement.

Early Termination Notes:

Early termination can be possible, but it is a negotiation question. This is often connected to a penalty.
It can be a statutory termination right, but it depends on the contract.

Typical cost: 6 months - 1 year rent (depends)

Obligations Upon Lease Expiration

Basic broom clean condition and removal of special installations.
Dilapidations.
Complete restoration to shell.
Other

Tenant Obligation Notes:

Inspections with the landlord

Section 1. Fit Cost Data

Total Fit-Out Cost

kr7170/sm

Class A Office

kr5258/sm

Class B Office

kr2390/sm

Class C Office

kr5258/sm

Flex Office / Warehouse

Total Fit-Out Cost Notes:

Depends on the negotiation with the landlord, and depends from client to client.

Furniture Cost

kr956/sm-kr1338/sm

Class B Office

Furniture Cost Notes:

These costs are typically paid by the client.

Floor Covering Cost

kr478/sm-kr717/sm

Class B Office

Floor Covering Cost Notes:

These costs are typically split between the landlord and client.

Partitioning Walls Cost

kr191/sm-kr717/sm

Class B Office

Partitioning Walls Cost Notes:

These costs are typically split between the landlord and client (a negotiation question).

Other (IT/etc) Cost

kr478/sm-kr956/sm

Class B Office

Other Cost Notes:

These costs are typically paid by the client (but a negotiation question).

Typical Manpower Hourly Rates

kr1864.2/hr

Senior Project Manager

kr1156.76/hr

Project Manager

kr793.48/hr

Junior Project Manager

Project Management Base Fee

10%

Base fee [%] for the fitout of above office of 1000 m2.

Section 2. Scope of Work Description

Phase 1: Services Before and During the Transaction

Review the LOI and work letter portion of the Lease to ensure that the clients interests are protected during the build-out of the project.
Typically included in "Project Management" scope of work.
Advise Colliers broker and client on project issues and their resolution as they occur.
Typically included in "Project Management" scope of work.
Not typically included at all, but available for an additional fee.
Participate in building tours, if requested, to evaluate building systems and other cost-related observations and prepare a building due diligence report
Typically included in "Project Management" scope of work.
Not typically included at all, but available for an additional fee.
Develop high-level project estimate and timeline based on test fit and Client standards
Typically included in "Project Management" scope of work.
Not typically included at all, but available for an additional fee.
Schedule and chair Schematic Drawings and Design Development Drawings review meetings/conference calls
Not typically included at all, but available for an additional fee.
Define workplace strategy for client, research what kind of location, office / work environment accelerates business
Typically included in "Project Management" scope of work.
Not typically included at all, but available for an additional fee.
Define program of requirements for location, building and interior characteristics
Not typically included at all, but available for an additional fee.
Engage with the Client Facilities Management (FM) Operations team to ensure alignment with Client standards
Typically included in "Project Management" scope of work.
Not typically included at all, but available for an additional fee.
Phase 1 Notes:
Advise Colliers broker and client on project issues and their resolution as they occur: depends on the issues.

Participate in building tours, if requested, to evaluate building systems and other cost-related observations and prepare a building due diligence report: Depends on the request/agreement and timeline with the client.

Develop high-level project estimate and timeline based on test fit and Client standards: Depends on the request/agreement and timeline with the client.

Schedule and chair Schematic Drawings and Design Development Drawings review meetings/conference calls: We do not have an architect but we do help the client to buy up a third party.

Define workplace strategy for client, research what kind of location, office / work environment accelerates business: In general standard questions.

Phase 2: Service Before and During the Design Process

Develop preliminary project budget and schedule.
Typically included in "Project Management" scope of work.
Not typically included at all, but available for an additional fee.
Develop the RFP for selection of a space planner/architect and any other consultants identified and required
Not typically included at all, but available for an additional fee.
Analyze, compare and evaluate responses to the RFP.
Typically included in "Project Management" scope of work.
Not typically included at all, but available for an additional fee.
Orchestrate the space planner/architect interview process.
Typically included in "Project Management" scope of work.
Not typically included at all, but available for an additional fee.
Negotiate, on behalf of the client, professional services agreements with the space planner/architect and other consultants.
Typically included in "Project Management" scope of work.
Not typically included at all, but available for an additional fee.
Review architect’s final Program of Requirements.
Typically included in "Project Management" scope of work.
Not typically included at all, but available for an additional fee.
Monitor the design team’s schedule of deadlines and deliverables. Coordinate meetings with the design team and the client. Manage the design process on behalf of the client.
Not typically included at all, but available for an additional fee.
Review and recommend payment of the invoices for services. Submit invoices for payment to landlord or client and prepare monthly reports of project costs versus project budget.
Not typically included at all, but available for an additional fee.
Negotiate all client-vendor contractors (IT, AV, Security/Access Control, Signage, High Density Filing) on behalf of client.
Typically included in "Project Management" scope of work.
Not typically included at all, but available for an additional fee.
Schedule and chair weekly design review meetings/conference calls
Typically included in "Project Management" scope of work.
Not typically included at all, but available for an additional fee.
Other Value-Add Services: Test fits (including Look & Feel) - Cost Estimates - Schedule/timing/phasing scenarios - Floor plan, core and circulation efficiency ratios(GIA vs NIA) (NOA vs NIA) - Technical due diligence/Assessments - We may pack everything into a Feasibility Study or proposed them separately depending on the situation.
Typically included in "Project Management" scope of work.
Not typically included at all, but available for an additional fee.
Architectural design
Not available / not a service that can be offered.
Phase 2 Notes:
Depends on the request/agreement and timeline with the client.

Phase 3: Services Before Construction

Liaise with the Landlord’s Representative.
Typically included in "Project Management" scope of work.
Prequalify a list of general contractors to be interviewed (consult lease to confirm any Landlord required GCs).
Typically included in "Project Management" scope of work.
Not typically included at all, but available for an additional fee.
Develop the RFP, including Landlord and/or Lease required documents, for selection of a general contractor.
Typically included in "Project Management" scope of work.
Not typically included at all, but available for an additional fee.
Analyze, level, and evaluate the responses to RFP.
Typically included in "Project Management" scope of work.
Not typically included at all, but available for an additional fee.
Orchestrate general contractor interview process and prepare evaluation scorecard.
Typically included in "Project Management" scope of work.
Not typically included at all, but available for an additional fee.
Review all proposed subcontractors and monitor the general contractor’s subcontractor bid process to ensure integrity of the process and quality of the workmanship.
Typically included in "Project Management" scope of work.
Not typically included at all, but available for an additional fee.
Monitor the general contractor’s schedule of deadlines and deliverables. Coordinate meetings between the design team, general contractor, client and appropriate vendors.
Typically included in "Project Management" scope of work.
Not typically included at all, but available for an additional fee.
Negotiate, on client's behalf, the General Contractor agreement for Client approval
Typically included in "Project Management" scope of work.
Not typically included at all, but available for an additional fee.
Schedule and coordinate Architect's 90% Construction Drawings review
Typically included in "Project Management" scope of work.
Not typically included at all, but available for an additional fee.
Develop Project Cost Summary + Invoice Tracker and update weekly
Typically included in "Project Management" scope of work.
Not typically included at all, but available for an additional fee.
Phase 3 Notes:
Depends on the request/agreement and timeline with the client

Phase 4: Services During Construction

Coordinate with the Landlord’s Representative.
Typically included in "Project Management" scope of work.
Not typically included at all, but available for an additional fee.
Conduct weekly construction meetings to assess progress, quality and conformance with the Contract Documents and distribute minutes of meetings.
Typically included in "Project Management" scope of work.
Not typically included at all, but available for an additional fee.
Monitor the general contractor’s schedule.
Typically included in "Project Management" scope of work.
Not typically included at all, but available for an additional fee.
Monitor the construction budget.
Typically included in "Project Management" scope of work.
Not typically included at all, but available for an additional fee.
Monitor all project documentation.
Typically included in "Project Management" scope of work.
Not typically included at all, but available for an additional fee.
Act at all times as client’s liaison to vendors contracted directly by Client (IT, AV, Security/Access Control, Signage).
Typically included in "Project Management" scope of work.
Not typically included at all, but available for an additional fee.
Close out all consultant, contractor and vendor contracts.
Typically included in "Project Management" scope of work.
Not typically included at all, but available for an additional fee.
Submit General Contractor, vendor, and consultant invoices to Landlord for reimbursement per the Lease Workletter
Typically included in "Project Management" scope of work.
Not typically included at all, but available for an additional fee.
Review and recommend for payment all General Contractor, vendor, and consultant invoices; submit to Client for approval
Typically included in "Project Management" scope of work.
Not typically included at all, but available for an additional fee.
Deliver close-out documents, as specified in the Lease, to Client
Typically included in "Project Management" scope of work.
Not typically included at all, but available for an additional fee.
Phase 4 Notes:
Depends on the request/agreement and timeline with the client

Additional Services: Services During Relocation

Develop RFP for moving companies, evaluate responses and recommend selection of moving company or identify, interview and review proposal for services from relocation consultants.
Typically included in "Project Management" scope of work.
Not typically included at all, but available for an additional fee.
Represent Client in development of move strategy.
Typically included in "Project Management" scope of work.
Not typically included at all, but available for an additional fee.
Monitor development of move activity checklist.
Typically included in "Project Management" scope of work.
Not typically included at all, but available for an additional fee.
Represent client on site during move process.
Typically included in "Project Management" scope of work.
Not typically included at all, but available for an additional fee.
Additional Services Notes:
Develop RFP for moving companies, evaluate responses and recommend selection of moving company or identify, interview and review proposal for services from relocation consultants: Typically included, but depends on the agreement with the client.

Additional Services: Project Management Services Related to Furniture/Workstation Procurement

Conduct bid process for all furniture (workstations, case goods, seating, filing) purchases specified by the architect and/or client.
Typically included in "Project Management" scope of work.
Not typically included at all, but available for an additional fee.
Conduct bid process for refurbishment of existing furniture and/or workstations.
Typically included in "Project Management" scope of work.
Not typically included at all, but available for an additional fee.
Evaluate bids and negotiate purchase order with manufacturer(s).
Typically included in "Project Management" scope of work.
Not typically included at all, but available for an additional fee.
Negotiate national buying contract with select furniture dealerships, using Colliers International purchasing power
Typically included in "Project Management" scope of work.
Not typically included at all, but available for an additional fee.
Additional Services Notes:
Conduct bid process for all furniture (workstations, case goods, seating, filing) purchases specified by the architect and/or client: Depends on the agreement. We normally help the clients with buying up third party who handles the furniture.

Business Climate Business Climate data provided in partnership with Hickey & Associates. Rankings reported on a scale of 1 (least favorable) to 10 (most favorable). Please refer to the full report Explore 2017 for additional details.

Incentives and Labor Market

3, 7 3/10

Incentives
Value potential, diversity/number of programs

7, 3 7/10

Job Saturation
Competition for workers

4, 6 4/10

Wage Inflation
Rise in wages (past 10 years, local currency)

Educational Attainment

10, 0 10/10

HS Ed Eq
Proportion of population attaining this level

6, 4 6/10

University Ed
Proportion of population attaining this level

8, 2 8/10

Overall
Composite average of HS Ed Eq & University

Composite

6, 4 6/10

Additive sum of incentives, saturation, overall ed attainment, and wage inflation

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