Kungsleden purchases property for SEK 52 m
Listed Swedish property company Kungsleden AB (publ) is purchasing a commercial property for SEK 52 m at a property yield of 11%.
This property is located in Motala, south west of Stockholm, and has a leasable area of approximately 30,000 sq.m. Rental value is approximately SEK 6 m.
The whole property is let to engineering firm AB Motala Verkstad on a 17-year lease. Motala Verkstad designs, processes and assembles mechanical systems.
Completion is scheduled for 3 May 2011.
“This is a really good and high-yielding property with a stable tenant,” commented Kungsleden’s Chief Executive Thomas Erséus.
For more information, please contact:
Thomas Erséus, CEO Kungsleden | phone +46 (0)8 503 052 04 | mobile +46 (0)70 378 20 24
Johan Risberg, Deputy CEO Kungsleden | phone +46 (0)8 503 052 06 | mobile +46 (0)70 690 65 65
Detta pressmeddelande finns tillgängligt på svenska på www.kungsleden.se/pressmeddelanden
Kungsleden AB (publ) 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 29 April 2011 at 8:00 a.m.
Kungsleden’s strategy is to ensure sustainable high and stable returns proceeding from its existing holding, and through acquisitions and divestments. As of 31 March 2011, the property portfolio comprised 629 properties with a book value of SEK 25.5 bn. The portfolio was located in a total of 141 municipalities, mainly in southern and central Sweden. Kungsleden has been quoted on the Nasdaq OMX Stockholm since 1999.