Fabege and Peab acquire Råsunda football stadium
Fabege and Peab have concluded an agreement with the Swedish Football Association for the acquisition of the Råsunda football stadium in Solna. The purpose of the acquisition, which also includes the existing office buildings, is to develop new housing and workplaces.
The price for existing buildings and development rights currently amounts to SEK 490m, but the final price tag will depend on the scope of the detailed development plan. Fabege’s share of the purchase consists of two existing office buildings and future office development rights. Fabege’s share of the estimated purchase price is SEK 170m.
Occupancy will take place once the detailed development plan has been approved. The Råsunda stadium’s activities will be transferred as soon as Swedbank Arena, the new National Arena for football, has been completed, which is expected to take place late in 2012.
“The location in Solna, offering good transport connections and a wide range of local services, means that demand for modern offices in the area is likely to grow. This acquisition further strengthens our presence in one of our priority sub-markets, Solna,” Christian Hermelin, Fabege’s CEO, says.
Fabege AB (publ)
For further information, please contact:
Christian Hermelin, CEO, phone +46 (0)8-555 148 25, +46 (0)733-87 18 25
Åsa Bergström, Executive Vice President and CFO, phone +46 (0)8-555 148 29, +46 (0)706-66 13 80
Annette Kaunitz, Head of Corporate Communications, phone +46 (0)8-555 148 20, +46 (0)708-390 337
This constitutes information that Fabege AB (publ) may be legally obliged to publish under the Securities Market Act and/or the Financial Instruments Trading Act. The information was released for publication at 10:00 on 11 December 2009.
Fabege AB (publ) is one of Sweden’s leading property companies focusing on commercial premises. The book value of the company’s property portfolio is approximately SEK 29.4bn. The portfolio is concentrated to the Stockholm region and has an annualised rental value of SEK 2.4bn and a lettable area of 1.4m square metres. Fabege’s shares are listed on the Stockholm Stock Exchange, Large Cap segment.