Kungsleden divests residential building rights in Järfälla
Kungsleden has signed an agreement with K-Fastigheter to divest the Järfälla Veddesta 2:65 property for residential purposes. The price amounts to SEK 8,000 per sq.m. GTA, which corresponds to SEK 259 million, with an anticipated gross total area (GTA) of 32,000 sq.m.
The property is currently developed, containing 14,000 sq.m. of offices. Kungsleden has successfully pursued a zoning plan process to transform the property into an attractive residential area. The new zoning plan, which has been distributed for consultation, permits just over 32,000 sq.m. GTA. The purchaser assumes responsibility for vacating and demolishing the existing building. Ownership of the property will be transferred when the zoning plan has gained legal force, which is expected to take place in the fourth quarter of 2021. The positive earnings impact on the transfer date is estimated at SEK 114 million.
“We continue to realise the attractive development rights potential in our property portfolio and look forward to following K-Fastigheter’s work to develop this expansive area of Stockholm. Kungsleden is currently preparing more than 280,000 sq.m of residential building rights that we intend to divest as these approach completion,” says Ylva Sarby Westman, Deputy CEO and CFO of Kungsleden.
About Kungsleden. We are people that create places and experiences for people. By developing and managing attractive and sustainable places, we offer people a better and more inspiring work experience. We are a long-term property owner focused on commercial properties in Sweden’s growth regions. As of 31 December 2020, we owned 211 properties with a total value of SEK 40,718 m. Kungsleden (KLED) is listed on the Nasdaq Stockholm Large Cap. Read more at www.kungsleden.se