Hufvudstaden acquires property in Nordstan, Gothenburg

Hufvudstaden has acquired the Nordstaden 8:26 property, located in the Nordstan Shopping Centre. The vendor is AMF Pensionsförsäkring. The purchase sum is SEK 1,265 million and the completion date is March 7, 2013.

The rentable floor space is approximately 20,700 square metres, comprising 11,400 square metres of office space, 8,900 square metres of shops and restaurants and 400 square metres of storage facilities. The property is almost fully let. Major tenants include KappAhl, Esprit, Cassels, the Swedish Social Insurance Agency and the Second AP Fund.

The acquisition is in line with Hufvudstaden's strategy of concentrating its holdings in prime locations in central Gothenburg and central Stockholm. The new property is an excellent complement to Hufvudstaden's holdings in Gothenburg.

"The property fits extremely well into Hufvudstaden's holdings, particularly in the light of the fact that we already own the Femman precinct in Nordstan. We believe the property has development potential, as Nordstan is one of the leading shopping centres in Northern Europe with an attractive range of retail shops, parking amenities and modern office space in the best commercial location imaginable. The acquisition will help Hufvudstaden to consolidate its position as one of the leading long-term property owners in Gothenburg," states Ivo Stopner, President of Hufvudstaden.

In an official statement on the sale, President of AMF Real Estate Mats Hederos states: "We are pleased that ownership of the property is passing to Hufvudstaden, which has its own local property management organisation in Gothenburg as well as solid knowledge of the market. Hufvudstaden's firm commitment in this area guarantees the positive development of Nordstan in the years to come."

Stockholm, November 30, 2012


Ivo Stopner

Questions can be answered by:
Ivo Stopner, President, or Magnus Jacobson, Head of Finance, telephone +46 (0)8-762 90 00.

About Us

Hufvudstaden provides office and retailing premises in prime locations in Stockholm and Gothenburg. The Company was founded in 1915 and is today one of Sweden's largest listed property companies and one of the strongest brands in the country in the property sector.