Samhällsbyggnadsbolaget i Norden AB sells building rights with a positive effect on earnings of approximately SEK 50m
Samhällsbyggnadsbolaget i Norden AB (publ) ("SBB" or the “Company") announces that the Company divests building rights with a calculated volume of 63,500 sqm BTA in three separate transactions for a total property value of approximately SEK 180m. The transaction value exceeds the latest external valuation and the transactions are estimated to have a positive effect on the Company's earnings by approximately SEK 50m for 2018. The estimated impact on earnings does not include any future potential profits from Joint Ventures (“JV”). The purchasers are Ahnström & Pyk, Bovieran and a JV with KlaraBo.
SBB sells building rights of 50,000 sqm BTA to a JV with KlaraBo. The properties planned for regulated rental residentials are located in Kävlinge, Motala, Karlstad, Karlshamn, Sundsvall and Borlänge.
In the new neighborhood of Nöthagen in the central part of Nyköping, SBB sells building rights of 10,000 sqm to Ahnström & Pyk. In Nöthagen, near the new travel centre, industrial properties are transformed into a modern residential area. Building rights include the conversion of existing industrial premises and new building rights are created. With Ahnström & Pyk's experience, the development of urban environments will take into account the industrial history of the site.
In Karlskrona, SBB sells building rights of approximately 3,500 sqm to Bovieran. The purchase means that Bovieran will be established in Karlskrona with its concept of condos for persons over 55 years of age.
"We are pleased to contribute to increased new production of housing with different tenures around our major cities. By building together with others, developing the areas around our management properties, we also strengthen our position as a leading player within the community service properties and the rental residential sector. The sale of building rights also shows how attractive our building rights portfolio is,” says Ilija Batljan, CEO and founder of Samhällsbyggnadsbolaget i Norden AB.
The closing will take place when the zoning plan has been approved.
For further information, please contact:
Ilija Batljan, CEO and Founder of Samhällsbyggnadsbolaget i Norden AB, +46 70 518 39 67, ilija@sbbnorden.se
This information is information that Samhällsbyggnadsbolaget i Norden AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was originally submitted for publication in Swedish, through the agency of the contact person set out above on June 20, 2018, at 17.20 CET.
About Samhällsbyggnadsbolaget i Norden AB (publ)
The company’s strategy is to own, manage and develop community service properties throughout the Nordic region and rental apartments in growth regions in Sweden. Through the company's commitment and engagement in community participation and social responsibility, municipalities and other stakeholders find the company an attractive long-term partner. SBB was named the winner of the 2017 Real Estate Company of the year Award. The company’s series B shares (short name SBB B) and preference shares (SBB PREF) are listed on Nasdaq First North Premier. Certified Adviser is Remium Nordic Holding AB (www.remium.com). More information about the company is available at www.sbbnorden.se.