Through Hemsö, its joint venture with AP3 (the Swedish Third Pension Insurance Fund), listed Swedish property company Kungsleden AB (publ) is purchasing a public property for a total purchase price of SEK 71 m excluding transaction costs. The initial property yield amounts to 7.4%.
The property is in Krokslätt, just south of central Gothenburg. Leasable area is approximately 6,800 sq.m., the majority let to the International English School on a nine-year lease. The remaining area consists of offices and a small restaurant. Total rental value is about SEK 7 m.
Completion is scheduled for 1 December 2011.
“We’re purchasing this property at a good yield, and with the International English School as a stable, long-term tenant,” commented Kungsleden’s Chief Executive Thomas Erséus.
For more information, please contact:
Thomas Erséus, CEO Kungsleden | phone 46 (0)8 503 052 04 | mobile 46 (0)70 378 20 24
Johan Risberg, Deputy CEO Kungsleden | phone 46 (0)8 503 052 06 | mobile 46 (0)70 690 65 65
Detta pressmeddelande finns tillgängligt på svenska på www.kungsleden.se/pressmeddelanden
Kungsleden AB (publ) 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 14 November 2011 at 08:00 a.m.
Kungsleden’s strategy is to ensure sustainable high and stable returns proceeding from its existing holding, and through acquisitions and divestments. As of 30 September 2011, the property portfolio comprised 639 properties with a book value of SEK 26.5 bn. The portfolio was located in a total of 142 municipalities, mainly in southern and central Sweden. Kungsleden has been quoted on the Nasdaq OMX Stockholm since 1999.