Kungsleden sells properties in Poland for EUR 12.5 m
Listed Swedish property company Kungsleden AB (publ) is selling two industrial properties in Bielsko-Biala in southern Poland, for a total purchase price of EUR 12,5m or approximately SEK 104 m excluding transaction costs. The sales price is in line with book value and acquisition cost.
These properties were included in the purchase of the majority of properties of Nordic & Russia Properties Ltd. in 2011. Gross leasable area is approximately 44,000 sq.m.
The purchaser is a Polish property company, and completion will be by 18 September at the latest. This transaction is conditional on the Municipality of Bielsko-Biala not exercising its pre-emptive right, which expires on 6 September 2012.
“Kungsleden’s focus is to own and manage properties in Sweden, so it's natural that we’re selling these properties in Poland now, as planned. Our focus remains on customer care, portfolio enhancement and searching for good deal opportunities,” commented Kungsleden’s Chief Executive Thomas Erséus.
Savills has been the broker in this transaction.
For more information, please contact:
Thomas Erséus, CEO Kungsleden | phone +46 (0)8 503 052 04 | mobile +46 (0)70 378 20 24
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 8 August 2012 at 10:00 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 31 March 2012, the property portfolio comprised 317 properties with a book value of SEK 15.5 bn. The portfolio was located in a total of 100 municipalities, mainly in southern and central Sweden. Kungsleden has been quoted on the Nasdaq OMX Stockholm since 1999.