Hufvudstaden sells Liljeholmen properties

Hufvudstaden sells Liljeholmen properties Hufvudstaden has reached an agreement covering the sale of the Stora Katrineberg 16 and Stubinen 2 properties, located in Liljeholmen suburb of Stockholm. The buyers are two companies within the Doughty Hanson & Co European Real Estate Fund, represented by Doughty Hanson & Co European Real Estate Limited. Occupancy will be as of December 19, 2000. The purchase price for the properties amounts to SEK 900 M. In addition, Hufvudstaden has the possibility of receiving a supplemental payment totaling a maximum of SEK 70 M during the next five years, depending on whether certain building rights can be created on the properties. Hufvudstaden's consolidated capital gain, based on a purchase consideration of SEK 900 M, is about SEK 200 M. The sale of the Liljeholmen properties is in line with Hufvudstaden's strategy to concentrate its property portfolio to central Stockholm and central Gothenburg. The properties were received with leaseholds and the total rentable floor space, which amounts to about 74,000 sq. m., is distributed as follows: Stora Katrineberg 16 Type of Space, Share, premises sq. m. % Offices 35,601 65 Storage 1,026 2 Garage 15,138 28 Other 2,728 5 54,493 100 Stubinen 2 Type of Space, Share, premises sq. m. % Offices 14,835 77 Stores 1,619 8 Storage 1,944 10 Other 870 5 19,268 100 Annual rents, based on current contracts, today amount to approximately SEK 87 M, including property tax supplements. Stockholm, December 1, 2000 HUFVUDSTADEN AB (publ) Ivo Stopner President Questions will be answered by Ivo Stopner, telephone +46 8 762 90 00. ------------------------------------------------------------ This information was brought to you by BIT http://www.bit.se The following files are available for download: http://www.bit.se/bitonline/2000/12/04/20001204BIT00120/bit0001.doc http://www.bit.se/bitonline/2000/12/04/20001204BIT00120/bit0002.pdf

About Us

Hufvudstaden provides office and retailing premises in prime locations in Stockholm and Gothenburg. The Company was founded in 1915 and is today one of Sweden's largest listed property companies and one of the strongest brands in the country in the property sector.

Subscribe