Drott in large office project on Södermalm

Drott in large office project on Södermalm Drott and Atrium Fastigheter have signed an agreement to jointly develop the Fatburssjön 5 property by Medborgarplatsen. In an expansive area of Stockholm - close to downtown, the subway and commuter trains - an attractive office environment will be built with more than 48 000 square meters of office space and 300 parking spaces in an indoor garage. Occupancy in the first phase is scheduled for the first half of 2003. Site planning is underway and the project is expected to commence during the current year. The project will be built in phases, in pace with leasing activities. Fatburssjön 5, which currently generates annual rents of approx. MSEK 25, is valued at MSEK 550 including project potential. Drott will own half of the property and will invest a total of around MSEK 750 in the project. Direct yield is estimated at around 9 percent. "Drott sees the area around Medborgarplatsen as an interesting area to grow in, with a wide range of amenities, expansive companies and excellent communications. Having the opportunity to develop an interesting project in collaboration with Atrium is challenging and exciting", says Mats Mared, CEO of Drott. Drott AB (publ) For additional information contact Mats Mared, CEO of Drott, telephone +46 8 545 83 010 or Laszlo Kriss, CEO of Atrium Fastigheter, telephone +46 8 743 53 05. ------------------------------------------------------------ This information was brought to you by BIT http://www.bit.se The following files are available for download: http://www.bit.se/bitonline/2001/03/08/20010308BIT00530/bit0002.doc http://www.bit.se/bitonline/2001/03/08/20010308BIT00530/bit0002.pdf