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Press Release

06 December 2018

City of Stockholm officially approves detailed development plan for Hästen 21

On 5 December, the City of Stockholm  announced the Urban Planning Committee’s official approval of Pembroke’s detailed development plan for Hästen 21; a mixed-used development totaling 40,000 sq m located in the heart of Stockholm. The development is a key element of Pembroke’s long-term vision “Project Access,” which aims to improve accessibility and boost overall […]

On 5 December, the City of Stockholm  announced the Urban Planning Committee’s official approval of Pembroke’s detailed development plan for Hästen 21; a mixed-used development totaling 40,000 sq m located in the heart of Stockholm. The development is a key element of Pembroke’s long-term vision “Project Access,” which aims to improve accessibility and boost overall attractiveness for the entire city block.

At the heart of “Project Access” is the redevelopment of Hästen 21, located at the intersection of Master Samuelsgatan and Regeringsgatan. Pembroke is looking to create a future-proofed building that will accommodate 2,000 workers, 27 residential units and up to 20 retail units.

“Project Access,” is Pembroke’s vision for a new mixed-use  central city block, also comprising Mästerhuset (a high-specification office space of 30,700 sq m lettable area, developed by Pembrokein 2015), PK-huset (an office and retail space of 35,000 sq m lettable area, with direct access to the premium department store NK) and Smålandstorget (a new urban public square). By connecting Hästen 21, PK-huset and Mästerhuset, Pembroke is creating an entirely new flow through the block and contributing to a safer and livelier streetscape for pedestrians 24/7.

Pembroke’s plans correspond to the City’s 2030 & 2040 visions for urban development in Stockholm, which aspire to foster a vibrant, safe, climate-smart and economically sustainable city center. A close working relationship between the City of Stockholm and Pembroke over the past four years has resulted in a final detailed development plan for Hästen 21, which the Urban Planning Committee approved on November 22.

Akira Shimizu, Vice President, Head of the Nordics at Pembroke, comments:

“We are proud to have received the City’s approval for the Hästen 21 plans. This is an important milestone for the project, which aims to bring the whole neighborhood to life. The City of Stockholm and Pembroke are united in their commitment to this development, which we are confident will bring major improvements to the city center in general and the Mäster Samuelsgatan/Regeringsgatan intersection in particular. Following the Urban Planning Committee’s approval, we are now waiting for the development plan to come into force; with the City of Stockholm overseeing this process. We look forward to continued cooperation with them on the plans for Hästen 21.”

Over the past four years Pembroke has worked closely with the Urban Planning Office, which has involved guidance from the City Architect. This cooperation has helped to ensure that the design and expression of the new Hästen 21 properly reflects the priorities of the City of Stockholm. The new building’s design and materiality resonates with the historical Stockholm cityscape; fitting neatly with both old and new buildings, as well as with its surroundings.

The new Hästen 21 will focus on sustainability, aiming for a LEED(Leadership in Energy and Environmental Design) platinum certification; and energy consumption less than one-third of what the current building requires, thereby creating positive effects for Stockholm from day one.

About Pembroke

We’re an international real estate advisor that acquires, develops and manages properties and places – specializing in mixed-use and office environments in the world’s leading cities. Facilitating patient capital of our investors, we take a long-term approach to real estate, investing in global cities with proven long-term growth potential.

We have offices in Boston, London, Munich, Stockholm, Sydney, Tokyo, and Washington DC, and manage approximately 794,000 sq m/8.5m sq ft in North America, Europe, and Asia Pacific. By combining a global point of view with local expertise, we’re able to create and manage world-class properties that deliver the best outcomes for our tenants, investors and the communities in which we work.