Fabege sells leasehold in Hammarby Sjöstad

 

Fabege has sold the leasehold on the Påsen 8 property in Hammarby Sjöstad, Stockholm. The purchasers are Skanska and Ikano Bostad. The sale will occur in the form of a company with an underlying property value of SEK 42.5m. Påsen 8 currently comprises lettable area of approximately 3,100 sqm, mainly consisting of warehouse and office space. The purchasers, who intend to build housing on the property, will gain access on 12 December 2011. The sale will generate an after-tax gain of SEK 23m, which will be recognised in profit during the fourth quarter of 2011.

“The intention is to convert the property into housing and Fabege, through its initiating planning work, has created the foundation for a favourable transaction. It was quite natural that Skanska and Ikano Bostad, who already own the adjoining property block, would be the purchaser,” comments Klaus Hansen Vikström, Director of Business Development at Fabege.

Fabege AB (publ)

For further information, please contact:
Christian Hermelin, CEO, phone 46 (0)8 555 148 25, 46 (0)73 387 18 25
Åsa Bergström, Deputy CEO and CFO, phone 46 (0)8 555 148 29, 46 (0)70 666 13 80
Klaus Hansen Vikström, Director of Business Development, phone 46 (0)8 555 148 74, 46 (0)70 239 34 81

This constitutes information that Fabege AB (publ) may be legally obliged to publish under the Securities Market Act and/or the Financial Instruments Trading Act. The information was released for publication at 10:30 am CET on 9 December 2011.

Fabege AB (publ) is one of Sweden’s leading property companies focusing on commercial premises. The carrying amount of the company’s property portfolio is approximately SEK 28.7bn. The portfolio is concentrated to the Stockholm region and has an annualised rental value of SEK 2.1bn and a lettable area of 1.1m sqm. Fabege’s shares are listed on Nasdaq OMX Stockholm, Large Cap segment.

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About Us

Fabege AB (publ) is one of Sweden’s leading property companies, focusing mainly on letting and managing office premises as well as property development. Fabege offers attractive and efficient premises, mainly offices but also retail and other premises. The company’soperations are highly concentrated to a number of fast-growing submarkets in the Stockholm region, such as Stockholm inner city, Solna and Hammarby Sjöstad. Fabege manages a well-located property portfolio that is continuously being refined through development, sales and acquisitions. The concentration of properties to well-contained clusters brings the company closer to its customers, which, coupled with Fabege’s extensive local expertise, creates a solid foundation for efficient property management and high occupancy. Fabege’s vision is to be the most proactive, innovative and competent commercial property company in Stockholm as well as an important partner for its customers and society in general. At 30 September 2012, Fabege owned 97 propertieswith a total rental value of SEK 2,3bn, a lettable floor area of 1,2m sqm and a carrying amount of SEK 31.6bn.

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