Kungsleden acquires three public properties
Press Release 3 May 2007
Listed Swedish property company Kungsleden AB (publ) is acquiring two schools in Västerås, west of Stockholm, and a pre-school under construction in Eskilstuna, also west of Stockholm. The two properties in Västerås have lettable floor-space of approximately 4,900 sq.m., and the pre-school in Eskilstuna, which is scheduled for completion at year-end 2007, will have lettable floor-space of approximately 1,400 sq.m. The average contract term is 19 years, and 52% of rental revenues are sourced from the Municipalities of Västerås and Eskilstuna respectively.
The total purchase price is SEK 121 m including transaction costs, and an estimated property yield of 6.4%.