Kungsleden purchases property for SEK 97 m
Listed Swedish property company Kungsleden AB (publ) is purchasing a commercial property for SEK 97 m including transaction costs. The property yield is 7.4%.
This property is located in Upplands Väsby, 30 km north of Stockholm, and has leasable area of approximately 13,500 sq.m. of which 85% is warehousing and 15% is offices. The rental value is about SEK 8.3 m.
The whole property is let to Jobman Workwear, a leading workwear brand, on a five-year lease. Completion is scheduled for 3 May 2011.
“This property fits well in Kungsleden’s portfolio with its high and stable returns. It is in a good estate with good communications. A stable tenant also assures continued stable cash flow,” 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 19 April 2011 at 15:15 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 31 December 2010, the property portfolio comprised 592 properties with a book value of SEK 21.5 bn. The holding was located in a total of 133 municipalities, although concentrated on the Swedish provinces of Götaland and Svealand, and the Öresund region. Kungsleden has been quoted on the Nasdaq OMX Stockholm since 1999.