Atrium Ljungberg AB sells its Skotten 6 property in the City of Stockholm
The property company Atrium Ljungberg has today concluded an agreement for the sale of its Skotten 6 property, also known as Glashuset, on Drottninggatan in Stockholm. The purchase price is based on an underlying property value of SEK 1,900 million and comprises approximately SEK 13,500 m2. The purchaser is Axfast AB.
Skotten 6 is on Drottninggatan in the City of Stockholm, which is one of Sweden’s busiest and most famous pedestrian streets with a footfall of more than 20 million people every year. Although Skotten is known as ‘Glashuset’ today, it used to be called ‘Bohagshuset’, as it formed part of the historic PUB department store on Hötorget square. The property is now home to both offices and retail units across several floors.
“Atrium Ljungberg’s business model is based on developing attractive urban environments. These comprise large coherent areas that have a mix of offices, retail, residentials, culture and education. For us, selling Skotten 6 is a natural step forward as we focus our property portfolio on areas where we can realize our vision and urban development strategy,” says Annica Ånäs, CEO of Atrium Ljungberg.
The purchase price is based on an underlying property value of SEK 1,900 million. The total rental value is SEK 95 million and the property has an economic vacancy rate of 12%. The transaction gives a result after tax of approximately SEK -36 million based on the valuation at year-end; including SEK 7 million in realized changes in value after deduction of transactions cost, SEK -19 million in deferred tax net, and SEK -24 million for the impairment of goodwill. Closing will take place on 31 January 2023 and the result will be reported in the financial statements for the first quarter of 2023.
Nacka, 17 January 2023
Atrium Ljungberg AB (publ)
This information is information that Atrium Ljungberg AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 07.45 CET on 17 January 2023.
For additional information, please contact:
Annica Ånäs, CEO Atrium Ljungberg, tel. +46 (0) 703 41 53 37, annica.anas@al.se
Ulrika Danielsson, CFO Atrium Ljungberg, tel. +46 (0) 70-647 12 61, ulrika.danielsson@al.se
Atrium Ljungberg is one of Sweden’s biggest listed property companies. We own, develop and manage properties in growth markets in Stockholm, Gothenburg, Malmö and Uppsala. Our focus is on developing attractive urban environments for offices and retail, supplemented with residentials, culture, service and education. The total letting area is approximately 1 million m² valued at SEK 61 billion. Our areas include more than 30,000 workers and students as well as 1,000 residents. Our project portfolio will enable us to invest the equivalent of approximately SEK 40 billion in the future. Atrium Ljungberg is listed as ATRLJ-B.ST on the NASDAQ Stockholm Large Cap list. Find out more at www.al.se
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