Kungsleden purchases property for SEK 20 m
Listed Swedish property company Kungsleden AB (publ) is purchasing a commercial property for a price of SEK 20 m excluding transaction costs, which is an acquisition price of approximately SEK 22 m including transaction costs. The initial property yield is approximately 8.8%.
This property is located in Uddevalla, in the west of Sweden, and has gross leasable area of about 3,900 sq.m. The rental value is around SEK 3,5 m.
The property was a part of the auction of the Kefren portfolio and completion is scheduled for 8 November 2011.
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 October 2011 at 03:00 p.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 June 2011, the property portfolio comprised 635 properties with a book value of SEK 26.1 bn. The portfolio was located in a total of 143 municipalities, mainly in southern and central Sweden. Kungsleden has been quoted on the Nasdaq OMX Stockholm since 1999.