Atrium Ljungberg Acquires 50% of Shares in A House, Plans Expansion

Atrium Ljungberg Acquires 50% of Shares in A House, Plans Expansion
Photo: Atrium Ljungberg

Atrium Ljungberg, a leading Swedish property company, has acquired 50% of the shares in A house, a vibrant coworking, and creative development hub. Since its establishment in 2016, A house has become a pivotal center for many innovative businesses, ranging from the Stockholm School of Economics' incubator to the OMAKA development brewery. Now, A house aims to expand to several new locations in Stockholm, including Atrium Ljungberg's properties near the new Slussen and the Slakthusområdet area.

Atrium Ljungberg valued A house at approximately 40 million SEK and purchased half of the company. In addition, Atrium Ljungberg plans to invest about 50 million SEK over the next few years for future expansion.

"A house has a unique ability to create destinations with a strong personality that stems from the property's soul, and then filled with vibrant content. We at Atrium Ljungberg work in the same way when we develop places. This deal is built on our shared values and the great opportunities for mutual exchange," says Annica Ånäs, CEO of Atrium Ljungberg.

With a background in creative industries – food, fashion, media, music, and film – the ambition is for A house to become a hub for creative development in other industries where the need for innovation is growing.

"When we started A house, the vision was to become a melting pot where Swedish creative companies could find their place in the world and develop ideas with global impact. Our model is about facilitating relationship building and idea creation," says Johan Almquist, co-founder of A house, who has been the company's chairman and will now serve as its CEO.

In a competitive coworking market, A house's creative concept provides a clear differentiation, which is evident in the former School of Architecture and Film House. A house now plans to expand to five more destinations, including new Slussen and Slakthusområdet, where Atrium Ljungberg has substantial property holdings. In addition, openings in other major Swedish cities are expected.

"Through the new establishments, we broaden the offering and also target new industries and contexts. Each house will have its own focus, and the common thread between all our destinations is the focus on creative development," continues Johan Almquist.

A house has been profitable since day one. In 2022, the company made over five million SEK in net profit after financial items on 37 million SEK in revenue, yielding a profit margin of 13.7%. Many exciting tenants have developed at A house, such as SSE Business Lab, Voi, Sting (voted the world's best incubator), Spendrups' development brewery Omaka, and the new restaurant Tengu. Notorious events have also been part of the successful concept.

"A house has truly proven that it can build a strong and profitable community and attract incredibly interesting tenants. They create an environment that not only attracts established names but also fosters new fantastic ideas and initiatives," says Annica Ånäs.

A house hosts freelancers and startups, consulting agencies, and creators of all kinds. Through the partnership with Atrium Ljungberg, a new target group will be larger companies. A house destinations will become a city-wide network that can be used as an additional office space, where A house serves as a link between the head office and the home office.

"Atrium Ljungberg and we are kindred spirits. We share a passion for the soul of places, to take care of the houses, and we believe that the best places"

Read the entire press release here.

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