Listed Swedish property company Kungsleden AB (publ) has signed a ten-year lease agreement with Westinghouse Electric Sweden AB, one of the world leaders in nuclear technology. Westinghouse will lease over 14,000 sq.m. in Västerås, west of Stockholm,  to an annual rental value of approximately SEK 16 m. The agreed lease is what is known as a Green Lease, where Kungsleden collaborates with its tenants to reduce environmental impact through decreased energy consumption.

The two buildings, 13,000 sq.m.of office and 1,000 sq.m. industrial building, has been empty for about ten years after ABB left the premises. The property has belonged to Kungsleden since early 2011 and was part of the purchase of NR Nordic & Russia Properties. The buildings will be tailored for Westinghouse in 2012 and completion is scheduled for late 2012.

"I'm very pleased to lease such a large area that has been vacant a long time and it feels good to strengthen the relationship with Westinghouse. It gives us a secure and stable cash flow that also affects our occupancy rate positively”, commented Kungsleden's Chief Executive Thomas Erséus.

Regulatory

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

www.kungsleden.se


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 29 December 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.