Kungsleden divests properties for SEK 88 m
Press Release 24 November 2009
Listed Swedish property company Kungsleden AB (publ) is selling two commercial properties for a total purchase price of approximately SEK 88 m excluding transaction costs. The total sales price exceeds book value by about SEK 8 m and acquisition cost by around SEK 3 m. This latter amount will be posted to Kungsleden’s profit for calculating dividends for 2009. Gross leasable area is 8,834 sq.m. One of the properties is located in Västerås, west of Stockholm, with the majority let to regional newspaper Vestmanlands Läns Tidning. The second property is in Viggbyholm industrial estate in Täby, north of Stockholm. Completion on the Västerås property is on 30 November 2009, and for the property in Täby, on 1 December 2009. “We think we’re seeing a cautious improvement on the property market, and a slight increase in interest in property transactions. For us, this means continuing to work on portfolio composition to increase our risk-adjusted returns for the long term,” commented Kungsleden’s Chief Executive Thomas Erséus. 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 24 November 2009 at 1:00 p.m.