Listed Swedish property company Kungsleden AB (publ) is acquiring a retail property in Hudiksvall, on the east coast of Sweden, for a purchase price of approximately SEK 80,5 m including transaction costs. The property yield is 8.5% and total rental value is about SEK 10 m.
The property has a leasable area of approx. 6,000 sq.m. of which 95% is retail space. This property, called Fyren, is a landmark shopping mall in central Hudiksvall. Its largest tenants are hobby store Clas Ohlson, sports retailer Intersport and clothing chain Kappahl.
Completion is on 1 October.
“This is a good retail property with stable tenants representing strong brands. A property with good and stable cash flows that we are acquiring for a healthy yield,” commented Kungsleden’s Chief Executive Thomas Erséus.
Kungsleden AB (publ) discloses the information in this press release according to the Swedish Securities Markets Act and/or the Swedish Financial Trading Act. The information was provided for public release on 1 October 2010 at 1:00 p.m.
For more information, please contact:
Thomas Erséus, CEO Kungsleden | phone 46 8 503 052 04 | mobile 46 70 378 20 24
Johan Risberg, Deputy CEO Kungsleden | phone 46 8 503 052 06 | mobile 46 70 690 65 65