Kungsleden sells a property for SEK 40 m
Listed Swedish property company Kungsleden AB (publ) is selling a commercial property in Sollentuna, near Stockholm, for a total purchase price of SEK 40 m. The sales price after transaction costs exceeds book value by approximately SEK 9 m and acquisition cost by about SEK 4 m. This latter amount will be included in Kungsleden’s profit for calculating dividends for 2012.
The property is located approximately 20 km north of Stockholm and has leasable area of around 7,000 sq.m. divided between 3,400 sq.m. of offices on five floors, with the remainder being warehousing and other areas on one floor. The building was constructed as operating premises by Munters AB in 1981. A tenant is currently leasing some 20% of the area.
The property is being sold to a private investor that intends to develop the property further. Completion is scheduled for 14 December 2012.
“I’m really satisfied with this deal and that we’re selling at a good level,” commented Kungsleden’s Chief Executive Thomas Erséus.
For more information, please contact:
Thomas Erséus, Chief Executive of Kungsleden | tel +46 (0)8 503 05204 | mobile +46 (0)70 378 2024
Anders Kvist, Deputy Chief Executive of Kungsleden | tel +46 (0)8 503 05211 | mobile +46 (0)70-690 65 63
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 October 2012 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 June 2012, the property portfolio comprised 322 properties with a book value of SEK 15.8 bn. The portfolio was located in a total of 101 municipalities, mainly in southern and central Sweden. Kungsleden has been quoted on the Nasdaq OMX Stockholm since 1999.