Fabege divests leasehold in Hammarby Sjöstad

Fabege has sold the leasehold to the Godsfinkan 1 property to the City of Stockholm. Godsfinkan 1 is located on Heliosgatan 22-26 and comprises office and warehouse space with a lettable area of approximately 7,800 sqm.

The sale will take the form of a company divestment with an underlying property value of SEK 190m and will generate a gain of SEK 15m before tax, which will be recognised during the fourth quarter.

The transaction is conditional upon the approval of the Stockholm city council. The transfer of ownership will occur during the fourth quarter of 2014 at the earliest.

• The transaction is a feature of our continued structural streamlining towards properties with future development potential for offices. Since Godsfinkan 1 is located right in the middle of residential units in Hammarby Sjöstad, we believe that the City of Stockholm is a better owner of this particular property,” comments Klaus Hansen Vikström, Vice President and Director of Business Development at Fabege.

Fabege AB (publ)

For further information, please contact:
Christian Hermelin, President and CEO of Fabege, tel: 46 (0)8-555 148 25, 46 (0)733-87 18 25
Åsa Bergström, Deputy CEO and CFO, tel: 46 (0)8-555 148 29, 46 (0)706-66 13 80
Klaus Hansen-Vikström, Deputy CEO and Director of Business Development, tel: 46 (0)8-555 48 74, 46 (0)702-39 34 81

Fabege AB (publ) is one of Sweden’s leading property companies focusing mainly on letting and managing office premises and property development. Fabege owns properties with a carrying amount of SEK 33.3bn. The property portfolio, which is concentrated in the Stockholm region, has an annualised rental value of SEK 2.3bn and a lettable area of 1.1m sqm.  Fabege’s shares are listed on NASDAQ OMX Stockholm, Large Cap segment.

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 2:30 pm CET on 10 October 2014.

Tags: