Kungsleden acquires 7 public properties
Press Release 17 November 2006
Listed Swedish property company Kungsleden AB (publ) is acquiring 7 properties in its Public Properties division, in four separate transactions for SEK 116 m. The estimated property yield is 7.5%. These properties are located in the south-western Swedish province of Västra Götaland and in Stockholm, with the latter comprising 54% of the value. The total lettable floor-space is SEK 10,200 sq.m. with aggregate rental value of SEK 11 m. Of rental revenues, 73% are sourced from the public sector, and the average rental term is approximately seven years.