Kungsleden makes SEK 85 m property divestment

 

 

Listed Swedish property company Kungsleden AB (publ) is selling four commercial properties for a total purchase price of SEK 85.3 m. Two of these properties are located in Umeå, northern Sweden, and two are in Örebro, west of Stockholm. Total lettable floor-space amounts to 9,461 sq.m., and total rental value is approximately SEK 9.3 m. The total property yield is 6.2%.

The sales price of these properties exceeds book value by SEK 14.3 m and acquisition value by SEK 14.7 m. This latter amount will be posted to Kungsleden’s profit for calculating dividends for 2008.

Kungsleden will transfer possession of the properties in Umeå on 17 November, and the properties in Örebro on 31 December.

Kungsleden discloses the information in this press release according to the Swedish Securities Markets Act and/or the Swedish Financial Trading Act. The information was provided for public release on 2 October 2008 at 11:00 a.m.

 

 

 

 

 

 

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.

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