Press Release 22 September 2010
Listed Swedish property company Kungsleden AB (publ) is selling a commercial property for a purchase price of SEK 72 m. The property yield is around 7%. The sales price is approximately SEK 2 m above book value, and exceeds acquisition cost by about SEK 28 m. This latter amount will be posted to Kungsleden’s profit for calculating dividends for 2010.
The property is located in a trading estate close to the Bergvik outdoor retail centre, just west of Karlstad, central Sweden. Gross leasable area is 8,800 sq.m., the majority consisting of retail premises.
The buyer is a holding company from Norway, through Union Corporate AS. Completion on the property is scheduled for 1 October 2010.
“We’re continuing to work on enhancing our portfolio. I’m satisfied with this deal, which generates a healthy profit against acquisition cost,” commented Kungsleden’s Chief Executive Thomas Erséus.
For more information, please contact:
Thomas Erséus, CEO Kungsleden | phone 46 8 503 052 04 | mobile 46 70 378 20 24
Johan Risberg, Deputy CEO Kungsleden | phone 46 8 503 052 06 | mobile 46 70 690 65 65
This press release is available in Swedish at 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 30 June 2010, the property portfolio comprised 559 properties with a book value of SEK 21.9 bn. The holding was located in a total of 129 municipalities, although concentrated on the Swedish provinces of Götaland and Svealand, and the Öresund region. Kungsleden has been listed on Nasdaq OMX Stockholm since 1999.