K-Fastigheter buys building right for more rental apartments in Gävle

K-Fast Holding AB has entered into an agreement with Alderholmen 4:34 Aktiebolag for the acquisition of the property Alderholmen 4:34 in the city of Gävle. The property has received a legally valid zoning plan enabling construction of about 110 apartments in the Group’s proprietary Lateral Low-Rise concept building, starting in 2022.

K-Fast Holding AB (“K-Fastigheter”) has entered into an agreement to acquire the property Alderholmen 4:34 in central Gävle. K-Fastigheter estimates that gross floor area (GFA) amounts to approximately 7,200 square meters and that the Group can build approximately 110 new apartments  in a district that contains both history in the form of old harbor warehouses and Gevalia’s coffee roastery as well as housing for the future.

“This acquisition is an excellent addition to our portfolio in Gävle. The location on Alderholmen with its proximity to both the city center and the ocean is fantastic and we look forward to adding new attractive rental apartments to the district,” says Magnus Persson, business development manager at K-Fastigheter.

K-Fastigheter expects to take possession during the first quarter of 2022 following customary terms and conditions. Construction is expected to start in 2022. The purchase price amounts to SEK 28.5 million and the annual rental value is estimated to approximately SEK 12.1 million after completion, which is expected to take place in 2024.

For more information, please contact:
Magnus Persson, Business Development manager, e-mail: magnus.persson@k-fastigheter.se, telephone: +46 10 209 61 39
Anders Antonsson, IR Manager, e-mail: anders.antonsson@k-fastigheter.se, telephone: +46 708 730 900

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 2,450 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 SEK 8.8 billion, with an annual rental value of about SEK 300 million. Since November 2019, the company’s Class B shares have been traded on Nasdaq Stockholm under the (ticker: KFAST B). Read more at www.k-fastigheter.com

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