This $1.4 Million Converted Water Tower In Sweden Could Make You Some Extra Cash

A 4-bedroom converted water tower in Sweden that creates its own income is on sale for $1,466,792.

The 28-meter-high Växholm home comes with a telecommunication antennae lease that generates $31,000 a year for its owners, according to Christie’s International Real Estate’s affiliate Residence, the agent handling the sale.

The ex-industrial home – which hit the market last month – lies on Växon island in the Växholm area of the Stockholm archipelago, about 20 miles from Stockholm. From its top floor, which features a classic Swedish sauna, there are far-reaching views across the surrounding island-strewn sea.

In addition, the property – which underwent a sympathetic conversion 20 years ago – has further development potential. Its unconverted water tank room could be turned into a swimming pool while the floor above it would make a great skylight-lit studio, according to its sales details.

Selling agent Jan Tivenius notes that the property’s circular rooms and church-like ground-floor kitchen/dining/living area make for an interesting home. “It genuinely feels different from a standard home,” he said. “Plus, it generates its own income.”

According to Tivenius, the property comes with the antenna lease contract. “The renegotiation of the contract will take place at the end of the lease period,” he said. “There are 4 different operators and the length and contract differs between each one.”

Built in the 1920s, the charming 7-story property, which features copper cladding and nautical-style elements, was designed by Cyrillus Johansson –a Swedish architect who was influential in Sweden in the 1920s and created works in a style known as Nordic Classicism.

Left derelict since the mid 1970s, the redbrick circular property was bought by its current owners in 2000 who converted it into a family home and retained many of its original features, according to its sales details. They are selling the home as their children are grown and they no longer need such a large house, Tivenius said.

Featuring a tapering, three-stepped form, the home’s accommodation is set over the first four stories and measures 2,900 square feet. Entry is via the ground-floor kitchen/living/dining room, which has all-around brick arches with arched windows behind, herringbone parquet underfoot, and soaring ceilings. 

The three floors above feature three bedrooms, bathroom, a master bedroom suite, and a plywood-lined music room. The 5th and 6th floors, accessed via a narrow spiral wooden staircase, feature the tower’s former water basin, a study room, bathroom, and an office space for the telecommunication companies.

The Swedish sauna on its top floor has access to the antennas and features windows all around – with wide views that include Växholm Castle, which was constructed on a neighboring islet in the 16th century for defensive purposes. 

Its grounds meanwhile are dotted with pine trees and feature a timber-framed carport with a studio apartment above, according to its sales details. 

The property’s design features maritime-style elements, befitting its coastal location, including a copper sailboat topping its spire and porthole-style windows on its curved façades, according to its sales photos.

The home would make an ideal setting for a Wes Anderson film thanks to its characterful look that fits in with the whimsy-meets-opulence-meets-vintage look of the film director’s distinctive aesthetic.

The home is being sold by Christie’s International Real Estate’s affiliate Residence

This post first appeared on Forbes.com. To see the original, click here.