Listed Swedish property company Kungsleden AB (publ) is acquiring four properties for a purchase price of approximately SEK 93 m including transaction costs.
Three of these properties are located in Tornby, an expanding trading estate in Linkoping, south-eastern Sweden. The purchase price of these properties amounts to SEK 52.5 m including transaction costs, with an estimated property yield of about 7.8%. The seller is TP Tornby Property AB. These properties have total lettable floor-space of about 8,400 sq.m., total rental value of approximately SEK 5.6 m and are fully let. The largest tenants are Storel, one of Sweden’s largest electrical wholesalers, IT consultant Rationell IT and YIT, one of the leading installation services providers in Sweden. Kungsleden takes possession of two of the properties on 29 November, and the third in the spring 2008.
The fourth property is a BYGGmax building supplies superstore under construction in Ullensaker just outside Oslo. The purchase price is about SEK 40.3 m including transaction costs, with an estimated property yield of 7.2%. BYGGmax Fastighets Holding AB is the seller. This property will have lettable floor-space of 2,777 sq.m. and rental value of about SEK 2.9 m. BYGGmax is renting the whole building on a ten-year contract, with possession scheduled to change hands on 15 January 2008.
“These office and warehouse premises in the expansive Tornby estate are fully consistent with Kungsleden’s strategy. We’re looking forward to our continued collaboration with BYGGmax as we follow them into Norway,” Thomas Erséus, Kungsleden’s Chief Executive, said in a comment.
For more information, please contact:
Thomas Erséus, Chief Executive, tel +46 (0)8 503 05204, mobile +46 (0)70 378 2024
Johan Risberg, Deputy Chief Executive, tel +46 (0)8 503 05206, mobile +46 (0)70 690 6565
Kungsleden 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 Monday, 26 November 2007 at 2 pm.
Detta pressmeddelande finns tillgängligt på svenska på www.kungsleden.se