K-Fastigheter acquires development property in Helsingborg

K-Fast Holding has acquired a development property of approximately 66,600 square metres in the Långeberga area in Östra Ramlösa, east of central Helsingborg. The company intends to construct its concept buildings for rental apartments at the site.

K-Fast Holding AB (“K-Fastigheter”), an active and committed landlord offering attractive homes in southwestern Sweden, has acquired the shares in Elliot Fastigheter AB, which owns the Helsingborg Långeberga 4:6 property. The vendor is NHD Invest AB, with the preliminary purchase consideration amounting to SEK 60 million, based on SEK 1,500 per square metre gross total area (“GTA”), and conditional on planning gaining legal force.

“The property forms part of the municipality’s general plan and we will have access to an area that will be very attractive with good access to both nature and major roads. The plan also includes a train station on the Skånebanan line, connecting Helsingborg and Hässleholm,” says Jacob Karlsson, CEO of K-Fast Holding AB.

K-Fastigheter will apply for a detailed plan with GTA of 40,000 to 60,000 square metres and up to 650 homes. The transaction is being financed through existing cash balances and K-Fastigheter will take possession of the site once the detailed development plan has gained legal force.

For further information, please contact:
Jacob Karlsson, CEO K-Fast Holding AB, e-mail: jacob.karlsson@k-fastigheter.se, telephone: +46 738 219 626
Anders Antonsson, IR Manager, e-mail: anders.antonsson@k-fastigheter.se, telephone: +46 709 994 970

As a property company, K-Fastigheter’s objective is to add value for tenants by creating attractive homes with superior comfort. The Group's operations encompass active property management, project development and proprietary construction operations. To enhance cost efficiency and cut construction times, K-Fastigheter has chosen to work with three concept buildings, developed in-house and constructed for proprietary management. K-Fastigheter provides some 1,700 homes in several locations in the Öresund region, in the province of Småland and in western Sweden, and is assessing new markets as production capacity increases. The Group's property portfolio has a book value of SEK 4.4 billion, with an annual rental value of about SEK 200 million. Since November 2019, the company's class B shares have been traded on Nasdaq Stockholm (ticker: KFAST B). Read more at k-fastigheter.se