Kungsleden acquires 35 properties in northern Sweden
Listed Swedish property company Kungsleden AB (publ) is acquiring 35 properties located in the northern Swedish cities of Umeå, Härnösand, Luleå, Nordmaling and Sollefteå from Midnattssolen Fastigheter AB for a purchase price of SEK 540 m at a property yield of 7.2%. The portfolio has total lettable floor-space of 99,613 sq.m., the majority being office and retail premises with a rental value of approximately SEK 62.5 m. The largest tenants are nationwide surplus retailer Överskottsbolaget, building supplies retailer Ahlsell AB, the University of Umeå, the Swedish social insurance authority Försäkringskassan, the Swedish Tax Agency, the county labour board and the Swedish National Courts Administration.
A contract is currently being conducted at the property in Luleå, and upon completion, this property will be fully let to Sweden Post’s courier arm, Poståkeriet. Kungsleden is scheduled to take possession later this autumn, once final inspection of the contract is approved. Kungsleden is scheduled to take possession of the other properties in this portfolio on 31 August 2007.
For more information, please contact:
Thomas Erséus, Kungsleden’s Chief Executive, tel +46 (0)8 503 05204, mobile +46 (0)70 378 2024
Lars Thagesson, Deputy Chief Executive, tel +46 (0)8 503 05230, mobile +46 (0)70 592 9470
Johan Risberg, Deputy Chief Executive, tel +46 (0)8 503 05206, mobile +46 (0)70 690 6565
Detta pressmeddelande finns tillgängligt på svenska på www.kungsleden.se
Kungsleden’s strategy is to ensure sustainable high and stable returns proceeding from its existing holding, and through acquisitions and divestments. As of 31 March 2007, the property portfolio comprised 598 properties with a book value of SEK 24.3 bn. The holding was located in a total of 128 municipalities, although concentrated on the Swedish provinces of Götaland and Svealand, and the Öresund region. Kungsleden has been quoted on Nordiska Börsen since 14 April 1999.