Kungsleden completes SEK 279 m sale
On 12 September, listed Swedish property company Kungsleden AB (publ) reported a sale of two commercial properties for a total purchase price of SEK 279 m. This transaction was subject to approval by the City of Stockholm’s municipal council. The transaction is now unconditional, and accordingly, may be completed.
The property yield is 6.4% and the sales price is consistent with book value and acquisition cost.
These properties are on the outskirts of Slakthusområdet wholesaling estate in Johanneshov, south of Stockholm. Leaseable area is approximately 25,000 sq.m., split 55% warehousing and 45% processing area, offices, staff accommodation and a restaurant. 95% of warehousing volumes consist of freezer storage.
The buyer is St Erik Markutveckling, a wholly owned subsidiary of the City of Stockholm.
Completion is on 29 November 2011.
“It feels good for us to be able to complete this transaction with a satisfactory profit,” 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 30 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.