Drott sells residential properties for SEK 16,400 per square meter
Drott sells residential properties for SEK 16,400 per square meter Drott has sold three residential properties in Stockholm for a total of SEK 86 M, which will generate a capital gain of SEK 21 M. The sales prices 2 correspond to a yield of 4.4% based on an average rent of SEK 1,100 /m . Sold properties Sjöråen Skalbagg Loket Tot 21 en 1 20 al Vasastad Johannes Vasasta en hov den Rentable floor 1 958 1 727 1 569 5 2 space, m 254 - of which 1 630 1 654 1 468 4 2 residential, m 752 Number of 28 28 35 91 residential apartments Rent 1999, SEK M 2.3 1.9 1.7 5.9 Sales price, SEK M 39.3 20.5 26.5 86. 3 2 Price per m , SEK 20 071 11 870 16 890 16 426 Yield 4.2% 4.7% 4.4% 4.4 % Book value, SEK M 27.8 16.7 21.3 65. 8 Capital gain, SEK M 11.5 3.8 5.2 20. 5 Takeover Dec 9, Dec 31, Dec 7, - 1999 1999 1999 Comment by Mats Mared, President of Drott AB: "Two of the properties were sold to the tenants via tenant owner associations. Both Drott and our tenants are satisfied with the agreements we have reached, and we take a favorable view of the formation of additional tenant owner associations in the future, in cases where tenants show an interest. We will provide the type of housing that our tenants desire." Drott's residential properties The Drott Group has a total of 18,241 residential apartments, which account for slightly more than one third of the Group's total rental revenues. Following the above sales, Drott owns a total of 5,139 residential apartments (135 residential properties) in the Stockholm region, of which 2,343 (68 residential properties) have inner-city locations. Drott AB (publ) For further information, please contact: Mats Mared (Tel: +46-8-545 83 010) ------------------------------------------------------------ Please visit http://www.bit.se for further information The following files are available for download: http://www.bit.se/bitonline/1999/12/13/19991213BIT00460/bit0001.doc http://www.bit.se/bitonline/1999/12/13/19991213BIT00460/bit0002.pdf