Kungsleden acquires real estate for 1 billion SEK and creates new office clusters in Gothenburg

Kungsleden acquires two newly built office properties as well as a property built with a parking garage for approximately 1 billion SEK. In combination with already owned properties, a new modern office cluster is created in the expansive area Södra Centrum in Gothenburg.

Kungsleden strengthens its position in the office market in Gothenburg by acquiring the properties Kallebäck 2: 7, Kallebäck 2:11 and Kallebäck 2: 9 in the expansive area Södra Centrum.

The properties are acquired from Skanska and have a total lettable area of ​​almost 30,000 sq.m, of which approximately 18,300 sq.m consist of office space and 11,600 sq.m of parking garage space.

One office building was completed in 2016 and access will take place on February 1, 2018, together with the parking garage, which was completed in 2015. The second office building is under construction and will be accessible after completion during Q1 2019.

The office properties are fully leased by Försäkringskassan, ÅF, Capgemini, Handelsbanken and BeSiDa with an average lease agreement of 5.8 years from the date of entry. The total lease value for all three properties amounts to just over 56 MSEK.

”I am very pleased that we now succeed in creating a cluster of properties in one of Gothenburg's most interesting neighborhoods. This significantly strengthens our customer offer on the Gothenburg market. Skanska has developed three high-quality properties with a clear sustainability profile and reputable tenants. Together with our existing and nearby office properties Krokslätt 34:16, Gårda 19:10 and Stiernhielm 7, the newly acquired properties form an attractive and modern office cluster – Gothenburg South Center, in all counting 50,000 sq.m,” says Ylva Sarby Westman, Deputy CEO and CIO at Kungsleden.

Södra Centrum has a very good geographical location between the two junctions Korsvägen and Mölndal C and with direct connection to the E6. The area also has excellent accessibility to public transport such as a tram and buses.

Södra Centrum becomes Kungsleden's second cluster in Gothenburg after Högsbo. The new cluster will, after accessing all properties, have a market value of almost 1.4 billion SEK and have a lease value of approximately 81 MSEK.

”We are very pleased with the sale to Kungsleden. We are also proud over the nice office projects that we created and look forward to continuing with the planned residential properties here in the quarter Tändstickan. We are convinced that both the tenants of the property and its new owner, Kungsleden, will enjoy their new premises,” says Micko Pettersson, CEO at Skanska Real Estate in Gothenburg.

For more information please contact:

Ylva Sarby Westman, deputy CEO and CIO Kungsleden | tel +46 8-503 052 27 | ylva.sarby.westman@kungsleden.se

Henrik Gerdin, Head of Transactions | tel +46 8-503 052 26 | henrik.gerdin@kungsleden.se

Detta pressmeddelande finns tillgängligt på svenska på www.kungsleden.se/pressmeddelanden

The information was provided for public release on 1 Feb, 2018 at 08:00 a.m.

Kungsleden is a long term property-owner that provides attractive, functional premises that enrich people’s working days. We create value by owning, managing and developing offices and other commercial properties in Stockholm and Sweden’s other growth regions. A large portion of our properties belong to attractively located clusters where we also engage in the development of the whole area. Kungsleden’s goal is to deliver an attractive total return on our properties and for our shareholders. Kungsleden is listed on NASDAQ Nordic Large Cap.

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About Us

Kungsleden is a property company operating in Sweden and listed on Nasdaq Stockholm. We focus on owning, actively managing, improving and developing commercial properties long-term in the office, industry/warehouse and retail segments, in chosen growth regions such as Greater Stockholm, Greater Gothenburg, the Mälar Valley and southwestern Sweden. We offer appealing and functional premises in the right locations at the right price. Clustering our properties, ensuring a good local knowledge and being close to our customers allows us to quickly offer new solutions when our customers’ needs change.