Buys Turitz Building in Gothenburg

Wallenstam has bought the so-called Turitz Building, Gamlestadsvägen 3 in Gothenburg for SEK 42.5 million from SPP. The property consists of about 26,100 m2 of floor space, most of which is office premises and a small proportion storage space. More than 80 per cent of the property is vacant. Wallenstam will take over on 17 August, 1998. Thomas Dahl, Director of Marketing and Information at Wallenstam, comments on the purchase as follows: "In view of the fact that Wallenstam has a rental level of 97.5 per cent in its commercial premises and that discussions with interested parties have already been initiated, we feel that this acquisition has considerable potential." Gothenburg, 23 June, 1998 Lennart Wallenstam Byggnads AB (publ) For further information, please contact Thomas Dahl, Director of Marketing and Information, phone +46 31 200 000.

About Us

Wallenstam was established in 1944 and is a dedicated property company with about 300 properties in the three major urban areas Gothenburg, Stockholm and Helsingborg. The focus of the Group’s portfolio is residential and commercial properties in Göteborg. The Group’s rental income is more than SEK 1 billion and the value of its property portfolio is just under SEK 13 billion. The Group’s Series B shares have been listed on the Stockholm Stock Exchange since 1984.