Kungsleden sells a property for SEK 385 m
Listed Swedish property company Kungsleden AB (publ) is selling a commercial property for a total purchase price of SEK 385 m. The property yield amounts to 7,1%. The sales price exceeds book value by SEK 20 m and acquisition cost by SEK 18 m. This latter amount will be included in Kungsleden’s profit for calculating dividends for 2011.
The property is located in Karlskrona, southern Sweden, and is 100% let to ABB. Leasable area amounts to approximately 37 000 sq.m., mainly consisting of industrial premises.
Completion will be on 7 December 2011 and the buyer is ABB.
“ABB has its own plans for this property, so it feels natural for them to realise them themselves. This is a good transaction, as well as the result of a positive collaboration with ABB,” 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 7 December 2011 at 1:00 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 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.