K-Fastigheter buys building right in Nödinge
K-Fast Holding AB has signed an agreement on the development of a building right in central Nödinge, in the municipality of Ale in southwestern Sweden. In partnership with the seller, K-Fastigheter will produce a detailed development plan suitable for K-Fastigheter’s proprietary Apartment Blocks.
K-Fast Holding AB (“K-Fastigheter”) has signed an agreement regarding the acquisition of all the shares in Joelberg AB, owner of the property Ale Nödinge 5:93. The transaction is conditional on the detailed development plan for the property gaining legal force. On the property, K-Fastigheter intends to build Apartment Blocks with up to 130 rental apartments and a gross floor area (GFA) of some 10,800 square metres.
“The acquisition is in line with our strategy to expand in western Sweden and it will be an addition to our current property portfolio in Surte, also in the municipality of Ale. Nödinge is a growth region in an attractive location with demand for housing units”, commented Jacob Karlsson, CEO of K-Fastigheter. “The Nödinge Centrum is currently being redeveloped, with the construction of a new town hall and substantial investment in infrastructure, new premises and housing units. If you want to live in an attractive location with great amenities within 30 minutes of central Gothenburg, Nödinge is the right place for you.”
The acquisition takes the form of a corporate transaction, with a preliminary purchase price of SEK 31.4 million based on a price of SEK 3,000 per square metre GFA. The transaction is financed through existing cash balances. The estimated lettable area totals 8,500 square metres, with an annual rental value of some SEK 15.3 million. Transfer of the shares is conditional on the detailed development plan gaining legal force. The seller is Joelberg AB.
For further information, please contact:
Jacob Karlsson, CEO, 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 1,800 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 approximately SEK 5.0 billion, with an annual rental value of about SEK 210 million. Since November 2019, the company’s class B shares have been traded on Nasdaq Stockholm (ticker: KFAST B). Read more at www.k-fastigheter.se
