Kungsleden—property acquisitions for SEK 300 m
Listed Swedish property company Kungsleden AB (publ) is acquiring 14 properties for a purchase price of SEK 297 m.
Two commercial properties in Kungsbacka, near Gothenburg, are being acquired from infomedia group Elanders AB. Total lettable floor-space is about 36,000 sq.m., with 75% let to a printing firm, Kungsbacka Graphics AB. Total rental value is SEK 15.7 m and the estimated property yield is 8.3%. The average remaining contract term is around 5 years.
Kungsleden is also acquiring six commercial and six public properties in Linköping, south-west of Stockholm from municipal property corporation AB Stångåstaden. These properties have total lettable floor-space of approximately 18,200 sq.m., mainly consisting of office, retail and pre-school premises. The biggest tenants are the Municipality of Linköping, Östergötland County Council, food retailers ICA and Coop and legal practice Advokatfirman Delphi. Total rental value is just over SEK 18.6 m, with an estimated property yield of approximately 7.7%.
Kungsleden will take possession in February 2008.
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 20 December 2007 at 2:15 p.m. CET.