New acquisitions and sales
New acquisitions and sales Acquisitions Drott has acquired the Lustgården 11 office property at Stadshagen, central Stockholm, for SEK 84 million. The seller is a private individual. Stadshagen is growing rapidly, largely as a result of very good transport connections. The acquired property generated rental revenues of SEK 10.3 million in 1999 (SEK 1,284 /sq. m.). Drott already owns a neighboring property, Lustgården 12. In addition, Drott has acquired the Olivedal 7:17 residential property at Linnéstaden, Gothenburg, for SEK 83 million. This property, which has a very attractive location, generated rental revenues of SEK 7.8 million in 1999 (SEK 763 /sq. m.). The seller is HSB Göteborg. Location Acquired Year Form of Rentab -of Takeov Pric properties built access le which, er e space housin SEK sq. m. g M sq. m. Stockholm Lustgården 11 1962 leasehold 8 030 - 000301 84 Gothenburg Olivedal 1968 ownership 8 966 7 256 000201 83 7:17 right Total Sales 16 996 7 256 167 A large commercial property in Gothenburg, by the Masthuggstorget square, has been sold for SEK 240 million. The purchaser is HSB Göteborg. The purchase price corresponds to a yield of 7% in 1999. In Stockholm, Drott has sold the Bootes 7 property at Skeppsbron for SEK 34 million, or SEK 31,000 per sq. m. In addition, an industrial property at Östra Hamnen, Malmö, and a small residential property at Olofström, have been sold. Location Sold Rentable -of Hand- Pric properties space which, over e sq. m. housin SEK g M sq. m. Stockholm Bootes 7 1 085 - 000331 34 Gothenburg Masthugget 31 016 7 708 000131 240 11:13 Malmö Sockret 7* 2 827 - 991127 2 Olofström Holje 1 241 933 000111 6 100:1 Total 36 169 8 641 282 *) sold during 1999 Drott AB (publ) Further information: Mats Mared, President (Tel: +46-70-640 57 15) ------------------------------------------------------------ Please visit http://www.bit.se for further information The following files are available for download: http://www.bit.se/bitonline/2000/01/25/20000125BIT00410/bit0001.pdf http://www.bit.se/bitonline/2000/01/25/20000125BIT00410/bit0002.doc