Fabege sells properties at Brommaplan

Fabege has divested the Grammet 1 property and Vävnaden 1 leasehold at Brommaplan, Stockholm.  The purchaser is JM. The sale takes place in the form of a company at an underlying property value of SEK 140m. Grammet and Vävnaden are commercial premises that comprise 7,000 sqm of rentable floor space.

JM intends to develop a large housing project at Brommaplan, which will also include these properties. The buyer will take possession on 17 December 2010. The sale gives rise to an initial after-tax gain of SEK 40m, which will be recognised as profit during the fourth quarter of 2010.

“JM has obtained a land reserve on adjacent land for the development of a large housing project, and is thus a suitable buyer,” says Fabege’s CEO, Christian Hermelin. 

Fabege AB (publ) 

This constitutes information that Fabege AB (publ) may be legally obliged to disclose under the Securities Market Act and/or the Financial Instruments Trading Act. The information was released for publication at 12:00 pm CET on 17 December 2010. 

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 28.1bn. The portfolio is concentrated to the Stockholm region and has an annualised rental value of SEK 2.2bn and a lettable area of 1.2m sqm. Fabege’s shares are listed on Nasdaq OMX Stockholm, Large Cap segment.

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