Listed Swedish property company Kungsleden AB (publ) is selling five commercial properties for a total purchase price of SEK 215 m. The sales price is in line with book value and exceeds acquisition cost by approximately SEK 45 m. This latter amount is included in Kungsleden’s profit for calculating dividends for 2011.
These properties are located in Norra Botkyrka, near the Slagsta Strand retail mall, south of Stockholm, and have gross leasable area of about 50,000 sq.m. The purchaser is Fastighets AB Botvid, which is 50:50 owned by Gelba Fastigheter AB and STRABAG Projektutveckling AB.
Kungsleden has been collaborating with Gelba Fastigheter AB on developing Slagsta Strand for some time, which has, for example, resulted in a 15,000 sq.m. lease to the Hemmamässan home furnishings expo. The new lease with Hemmamässan commences in spring 2012, with annual rental value of about SEK 13 m.
“We’ve worked hard and intensively on developing these properties and on the associated land. We’re now opting to sell this property to Gelba and Strabag Projektutveckling, which we think, has good prospects of continuing the development process. I’m really satisfied with this deal, which has generated 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 16 December 2011 at 11:00 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.