Fabege sells office property in central Stockholm

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Fabege has divested the leasehold for the property Orgelpipan 4 in central Stockholm. The buyer is Axfast AB, and the purchase price amounts to SEK 230m. The property comprises about 4,550 square metres and consists of an office building with retail premises on the ground floor. Transfer to the buyer will take place on 30 June 2010. 

The sale will result in a capital gain of SEK 29m after tax, which will be recognised in the second quarter of 2010. 

“The property is in a development phase, and we choose to focus on investments in leaseholds in
 our larger development projects,” comments Christian Hermelin, President of Fabege. 

Fabege AB (publ)

Fabege AB (publ) is one of Sweden’s leading property companies focusing on commercial premises. The carrying amount of the company’s property portfolio is approximately SEK 28.3bn. The portfolio is concentrated to the Stockholm region and has an annualised rental value of SEK 2.3bn and a lettable area of 1.3m sqm. Fabege’s shares are listed on Nasdaq OMX Stockholm, Large Cap segment.

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