D. Carnegie & Co has divested a site-leasehold with a grocery store in Akalla
D. Carnegie & Co AB (publ) – listed on Nasdaq Stockholm – has completed the divestment of a site-leasehold with a grocery store in Akalla. The buyer is a wholly owned subsidiary of SSM Holding AB (publ). The agreed property value amounts to SEK 80m, which is 95 percent above book value.
The site-leasehold to the property, Stockholm Mariehamn 1, is located at the Akalla subway station and currently comprises a 2,600 square meter building with commercial tenants, including a grocery store. D. Carnegie & Co. has, in consultation with the municipality of Stockholm, identified the site as suitable for future potential housing development with a commercial area at the ground floor. However since D. Carnegie & Co does not own any properties in Akalla, the company has chosen to divest the site-leasehold to another developer.
The sale was conducted as a share deal with an agreed property value of SEK 80m, which resulted in a net profit of approximately SEK 39m. The site-leasehold was acquired in 2014 for SEK 25m. The closing has taken place earlier today, May 31, 2017.
For further information, please contact:
For D. Carnegie & Co AB
Ulf Nilsson, CEO, phone nr +46 (0)8 – 121 317 25
About D. Carnegie & Co
D. Carnegie & Co is a property company focusing on residential properties in the Greater Stockholm region and other growth areas. The company’s business concept is to own property portfolios slated for a gradual renovation of apartments in conjunction with the natural turnover of tenants. This can take place quickly and cost-efficiently thanks to extensive experience from the company's renovation method which, among other things, means that no evacuation needs to take place. In addition to this, the company creates value through the development of building rights in existing portfolios. The market value of the company’s properties amounted to SEK17,481 million on 31 March 2017. The total rental value amounted to SEK 1,390 million annually on 31 March 2017. The economic occupancy rate is high – vacancies are virtually non-existent. D. Carnegie & Co is listed on Nasdaq Stockholm.