Kungsleden divests properties with residential development potential in Uppsala and Botkyrka
Kungsleden has signed agreements for the sale of the Flogsta 22:3 property in Uppsala and the greenfield properties Tumba 7:231 and 7:237 in Botkyrka in two separate transactions. The divestments are in line with Kungsleden’s strategy to sell properties with residential development potential.
The Flogsta 22:3 property is located in Flogsta in Uppsala. The building on the property constitutes 2,000 square meters and is primarily leased to ICA.
Together with Uppsala municipality, Kungsleden has identified the property as suitable for future residential development and the building right potential is estimated to amount to approximately 20,000 square meters BTA.
The buyer will pay an initial price of SEK 42.5 million at closing plus a guaranteed future earnout of SEK 10 million no later than six years after closing. An additional future earnout is dependent on the final zoning plan. Closing will occur in July.
The properties Tumba 7:231 and 7:237 comprise just over 18 hectares of land located in Botkyrka municipality. The initial purchase price is SEK 20 million. In addition, a future earnout may potentially be added when the zoning plan has obtained legal force. The properties were vacated in May.
Both transactions give an initial profit effect of SEK 13 million.
For more information, please contact:
Ylva Sarby Westman, Deputy CEO and CIO Kungsleden | 46 8 503 052 27 | ylva.sarby.westman@kungsleden.se
Detta pressmeddelande finns tillgängligt på svenska på www.kungsleden.se/pressmeddelanden
The information was provided for public release on May 24, 2017 at 07:00 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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